Shell
secured
80%
in
the
VMM3
Block,
while
ExxonMobil
clinched
71%
equity
in
the
VMM-2
Block
after
Canacol
farmed
out
stakes
to
the
supermajors
in
two
separate
transactions
earlier
this
year.
The
two
blocks
sit
on
top
of
a
potentially
exciting
shale
oil
fairway
in
the
Cretaceous
La
Luna
and
Rosablanca
formations.
“These
wells
will
help
prove
the
commerciality
of
the
play,
which
still
remains
unproven
in
Colombia,”
said
Canacol
president
Charles
Gamba.
Colombia
has
joined
the
ranks
of
Argentina
and
Mexico
in
trying
to
assess
its
previously
tough-to-develop
unconventional
oil
and
gas
plays.
The…
