Canada's Gran Terra strikes oil in Putumayo, Colombia

Gran Tierra Energy’s shares rose as much as 9 per cent after the South America-focused company said it found oil at a well in the Llanos basin in Colombia.

The Ramiriqui-1 oil exploration well in the Llanos-22 block tested natural flow rates of up to 2,525 barrels of oil per day, the company said in a statement on Wednesday.

The Calgary, Alberta-based company, which has extensive operations in the Putumayo Basin of southern Colombia, also said three more exploration wells are planned for this year in the country.



Source: Reuters