Parex has increased its 2016e capital expenditure program to range between US$100 mm and US$120 mm and is currently planning to drill an additional 13 (8.45 net) wells during the second half of 2016e. The Company has expanded the drilling program on the LLA-34 Block (55% WI). Exploration drilling in the Middle Magdalena Basin is not high risk. With success, Parex will achieve a new area for reserve and production growth. Early drilling results will be influential in the 2017e capital program.
