Even if Mugello's hydrocarbon shows do not prove significant (I...

Even if Mugello's hydrocarbon shows do not prove significant (I hope they are!), the quick and trouble free drilling has been a bonus in keeping LP2 on schedule.

- Monza-1 exploration well spudded midday Colombian Time on
10 March 2008. Planned total depth was approximately 1528 metres. As of 2400hours Colombian Time on 24 March 2008, the Monza-1 exploration well has reached a total depth of 4,863 feet (1482.2 metres). 14 Days to drill.

- Mugello-1 exploration well spudded 04 April 2008 Colombian time. The current planned total depth was approximately 1500 metres (4921 feet). As of 0530 hours Colombian Time on 13 April 2008, the Mugello-1 exploration well reached a total depth of 4781 feet (1457.2 metres). 9 days to drill to target debt.

- 11 days between reaching target dept on Monza and spudding Mugello (24 March to 04 April);

- From looking at LP2 on latest presentation it looks like it will have a debt of about 7700 feet. Consequently, should take longer to drill than Monza and Mugello. However, LP2 should be spudded by late April with result due sometime in May.;

Regards

SP