I'm working on Petrominerales today. This company has incredible exploration upside + they are on-track to exit this year with over 50,000 BOPD of production. I urge you all to read their 2nd quarter earnings release and operations update carefully. I will have an updated forecast model on the website under the Sweet 16 tab on Monday. - Dan
OUTLOOK
The second half of our 2011 capital program will include drilling two large prospects in areas we have not drilled before, the Llanos Basin Foothills and Ucayali Basin in Peru. These prospects have the potential to significantly increase the Company's reserves and are in addition to our existing, active 2011 exploration program of up to 34 exploration wells, up to an additional 14 stratigraphic wells on our heavy oil acreage and a further 17 development wells on our Orito and Neiva Blocks. We will also continue to invest in our future with plans to acquire over 1,600 square kilometres of high quality 3D seismic to provide us further opportunities to grow our multi-year prospect inventory, which currently sits at over 100 drilling locations.