The Parex Advantage
Arauca (Arauca-8): Multi-Zone, High-Impact Exploration Target A
Basin: Northern Llanos
Operator: PXT
W.I.: 50%
Arauca 3D Seismic
喝
Proven light-oil reservoir with high chance of success
■ Previous development was on 2D seismic and halted due to social issues
■ What success looks like: development plan with 3-10 wells and gas cycling plan
that would allow for early liquids production
Oil, Gas &
Condensate
Target
Arauca-8
Late Q3 2023
Initial Spud
Date
Zone 1
Barco
Zone 2
Guadalupe
Zone 3
Une
Q1 2024
Initial Results
Expected
(1) Gross Estimated Ultimate Recovery from independent reserves report prepared by GLJ Ltd. dated February 3, 2023, with an effective date of December 31, 2022; see "Oil & Gas Information" advisory.
Arauca-8
Target
Nearby Producing Field: Capachos Block EUR(1)
3P: 55 mmboe
2P: 41 mmboe
1P: 33 mmboe
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