Since May 2009, C&C has held a 50% working interest in the Pájaro Pinto block. Located in the Llanos Basin, the Pájaro Pinto block is 60,080 gross acres in size (30, 040 net acres). In 2008, the Corporation drilled two exploratory wells, the Pájaro Pinto Norte-1 and the Catartes-1 however neither well found commercial quantities of hydrocarbons. In 2010, the Corporation acquired 120 km2 of 3D seismic data over the Catartes-1 and surrounding wells where a few 2D seismic lines show leads. Within the 3D seismic volume acquired, there are several structural traps which are typical Llanos three-way closures against normal faults. The Corporation plans to drill at least one lead in 2011 and the others are currently in the licensing process.
