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PetroNova is an exploration and production company focused on the development of oil and gas resources in Colombia. Participating in four blocks, two of which are operated by the Company, PetroNova`s land position covers 1.3 million gross acres of world class exploration and production property. PetroNova has working interests in two sedimentary basins in Colombia, each offering their own risk/reward profile with significant resource potential. All of the Company`s assets are located nearby or on-trend to existing major oil fields or discoveries. The properties are located in the Caguan-Putumayo and Eastern Llanos Basins. Net prospective resources (as per an independent third-party) are approximately 173 million barrels (Petrotech as at February 28, 2013) and net proved plus probable reserves are approximately 1,965 thousand barrels (Petrotech as at December 31, 2013).
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