Petrolatina Energy - Production and Exploration

Just spoken to the company and you are free to believe or disbelieve this but this is what was said.

The Atzam workover was is currently in progress but started later than planned (early December). They are currently "cementing". I pressed them on it and I was told they were "reasonably confident of a successful outcome".

News will be early Jan - which was specified as being 1st or second week in January.

Serafin will start as scheduled in January.

Negotiations are going on with Eco petrol as we speak regarding our columbian field evelopment - PELE want to carry out a fairly "aggressive" programme. They need eco petrol approval for this.

Columbia will become more of a "focus" for the company due to the lower costs they are experiencing. In his words - it wasnt greg but I didnt catch the guys name "we havent got millions to throw at sorting out problem wells - we are not a major, but the oil is there" - this was a ref to guatemala.

So looks like Jan will be a busy time.