Amerisur Resources Plc has drilled the Mariposa-1 well in Columbia has been successfully drilled to a total depth of 11,556ft.
Intial tests indicates the presence of approximately 120ft of oil saturated net pay in the lower sands of the Une formation.
In addition, oil and gas was encountered while drilling this section.
The operator, ONGC Videsh, is currently conditioning the well to run and cement a 7″ production liner in order to initiate the testing programme.
John Wardle, Amerisur’s chief executive officer, said: “I am delighted with the result of the Mariposa-1 well, in the CPO-5 block.
“We look forward to updating shareholders upon completion of further tests by our partners ONGC Videsh.”