Colombia - Middle Magdalena Valley

Source: Modified from ANH land map
(1) Represents cumulative production on respective individual fields as at June 30, 2010 as reported by the ACIPET - Colombian Association of Petroleum Engineers
(2) Awarded at the June 22, 2010 Bid Round. C&C’s interest in these blocks is subject to negotiation of definitive agreements with the ANH, expected to be completed in September 2010.

The Middle Magdalena Basin in central Colombia is an area where many significant commercial oil fields have been discovered. The OCENSA export pipeline crosses the Corporation’s Morpho block. There is a significant market for light oil to be used as a diluent for new heavy oil production in this part of Colombia, which is also shipped via the OCENSA pipeline.

The Middle Magdalena Basin is an area of Colombia where management has extensive experience. Management believes that the Middle Magdalena Basin may contain the potential for significant additional resources. Currently C&C Energia Ltd. participates in two blocks in the Middle Magdalena Basin, the Morpho block and the VMM-21 block.