PetroMagdalena is a Canadian-based oil and gas exploration and production company with working interests in 19 properties (subject to Agencia Nacional de Hidrocarburos (ANH) approval) in Colombia and over 1.2 million acres of property. The Company is focused on increasing and optimizing production from its oil producing assets, while undertaking a comprehensive exploration program on the core oil properties in its portfolio to identify targets and increase reserves. The Company's share of production is currently over 3,000 barrels of oil equivalent per day ("boe/d") before deduction of royalties.
Capitalization:
| Shares issued and outstanding: |
147 million |
Options and warrants:
|
32 million
|
| Fully diluted: |
174 million |
Highlights:
- Top quality assets with immediate production growth opportunities located in Colombia's most prolific basins and close to existing oil and gas transportation facilities.
- Strong reserve base with 7.6 MMboe of proved reserves and 30.3 MMboe of 2P reserves at December 31, 2010.
- Attractive operating netbacks.