Ecopetrol, Talisman Join Forces to Explore Block 158 in Peru

Through its Supreme Decree 035-2009-EM, dated April 16, 2009, the Peruvian government authorized Perupuerto S.A. to enter into a License Agreement with Talisman (Peru) Ltd, Peruvian branch, and Ecopetrol del Peru, S.A. for hydrocarbon exploration and exploitation in Block 158 located in Peru.

Block 158 is comprised of 272,250 hectares and is located between the provinces of Ucayali and Requena, Department of Loreto, Maranon basin in Peru. Pursuant to the License Agreement, Ecopetrol will hold a 45% share of Block 158 while Talisman will hold the remaining 55% share and has been named operator.

This contract is part of Ecopetrol's internationalization process and evidences the Company's interest and confidence in Peru, where the Company is already jointly participating in another five exploratory blocks with Repsol and Talisman (blocks 90, 101, 134, 110 and 117), and in six Technical Evaluatory Areas (TEAs) together with Petrobras and Petroperu.