INTRODUCTION

LOCATION OF THE BLOCK


OVL in a consortium with SINOPEC (The National Oil Company of China) has acquired Omimex de Colombia on 20th September, 2006. The acquired company has been subsequently merged into Mansarovar Energy Colombia Limited (MECL), a 50:50 Joint Venture between OVL and SINOPEC. Earlier, Omimex de Colombia was a subsidiary of Omimex Resources, Inc. which is a privately held company based in Fort Worth, Texas, U.S.A.

Mansarovar Energy Colombia Limited holds 100% interest in the Velásquez fee mineral property located in the Middle Magdalena Basin and also holds 100% interest in the Velásquez-Galán Pipeline, which runs 189 km from the Velásquez property to Ecopetrol’s Barrancabermeja refinery. In addition, Mansarovar also holds a 50% interest in the nearby Nare and Cocorná Association Contracts, surface rights, drilling and other oil field equipment for a self sustained operation. The other 50% interest in Nare and Cocorná Association Contracts are held by Ecopetrol, the National Oil Company of Colombia Mansarovar is the operator of all the fields and the pipeline in Colombia. Mansarovar currently produces approximately 21,500 bbl per day.


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