Investor Presentaiton

Higher exploration activity and geological success International exploration wells Colombian exploration wells Stratigraphic wells 22 16 60 11 10 6 3 5 37 60 2 Successful wells 1 28 11 16 12 13 13 5 5 4 2 2007 2008 2009 2010 2011* 2012 (e) Geological Success * 16% 33% 26% 26% 48%** 60 Years * Success rate for A3/A2 wells; ** Does not include 4 wells under evaluation (as of Dec 31/11) in the calculation of success rate (17/35= 48%) 22 22

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