VMM 4 Block

The VMM-4 Block (154,904 gross acres) 15% carried interest through Phase II of the work program (3D seismic and 2 wells) was acquired via the business combination with ColCan in May 2012. The Block is located on the eastern edge of the Middle Magdalena Basin, where the basin ends against the Eastern Cordillera with its major mainly strike-slip fault-systems and rugged highlands.

In the last few years, this area of the Middle Magdalena unconventional play has received considerable attention from world-class, international resource play operators. In early April, 2012 Canacol Energy Ltd. and ExxonMobil Exploration Colombia Limited announced a US$50 million farm-out deal on VMM-2 which is adjacent to Sintana's VMM-4 block. Shell Oil is currently preparing to initiate an exploration program on VMM-3 which is adjacent to the VMM-2 and VMM-4.

Exploration wells recently drilled by Canacol, Conoco, Exxon and other industry participants have reportedly discovered substantial conventional and unconventional oil reserves on several nearby blocks including, Midas B, VMM-2 and Santa Isabel. Additionally, Ecopetrol targeted significant production levels from the Middle Magdalena unconventional shale fairway during 2015.

VMM-4 Work Program

In the fourth quarter of 2013, a 206 square kilometer 3D seismic data acquisition program on VMM-4 was completed and has now been processed and interpreted. The number and size of prospects identified in both the conventional and unconventional formations are very encouraging. The Company's 15% interest is carried in 2 wells scheduled to be drilled in 2016.