September 12, 2012 / 11:14 AM / in 5 years

REFILE-Petrominerales finds oil in Colombian block

(Refiles to add missing word in paragraph 2)

Sept 12 (Reuters) - Canadian oil and gas producer Petrominerales Ltd said it found oil in one of its wells at Corcel Block in Colombia’s Deep Llanos Basin, and it would drill three more wells in the area.

The Latin America-focused company, which has 15 exploration blocks in Colombia’s Llanos and Putumayo basins and five in Peru, said it drilled the Mambo-1 exploration well in Corcel block to a total depth of 11,875 feet.

Production for August averaged 25,235 barrels of oil per day (bopd), eight percent lower than the July average production, the company said early Wednesday. August production fell mainly due to two oilfields being shut-in and one well going offline for some days.

Shares of the company, which has a market value of C$861.1 million, closed at C$9.58 on Tuesday on the Toronto Stock Exchange. (Reporting by Ankur Banerjee in Bangalore)

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