EL CONDOR 1 WELL

DAILY DRILLING REPORT

300
DATE MAY 07/06

GENERAL INFORMATION
COMPANY ASSOCIATION CONTRACT LAHEE CLASIFICATION FORMATION PLANNED DEPTH (FT) PLANNED DAYS
LUKOIL OVERSEAS COLOMBIA Condor Block A-3 Une 16500 282
RIG COMPANY START DATE

20 Nabors July 12/05

Hole size (inch) Actual Depth (ft) Previous Depth TVD Progress ROP Formation Planned Depth (ft) Planned days
6.0 13509 13,469' 13467.0 40 5,71 ft/hr UNE
BIT PARAMETERS
Bit No. Manufacturer Type TFA IN OUT Footage (ft) Hrs Cum. RPM
42 HUGHES STX-DS50DX2 0.451 13469' 13509' 40 7 49699 2 4 BT G E 1 WT BHA LO

CASING
30 '' @ 40´ 20" @ 2615' 13-3/8" @ 4914' 9-5/8'' @ 8512' 7 '' @ 12966'
MUD PROPERTIES
Type MW FV PV YP Gels Filtrate MBT Solids Ca Ph Cl Cake Pf / Mf
WBM-KLA-GARD 8.8 49 15 21 8/9/11 4.0 <5 4.0 40 9.8 4,500 1 0,2/2,4
SURVEYS SLOW CIRCULATION RATES
DRILLS DATE MD (ft) Incl (Deg) Azi TVD (ft) DLS Pump No SPM Press (psi)

Kick while drilling No. Incidents 13144' 5.16° 265.31° 13104

Kick while tripping Days without LTI

Fire DAWCF

H2S No. Env incidents

Medevac Last HSE meeting

Spill RWC Max SICP

STOP Cards

Cum Stop Cards

Last rig inspection:

LITHOLOGY
13469´ 13470´ 20% Claystone, 20% Sandstone, 60% Sand
13470´ 13475´ 20% Claystone, 10% Sandstone, 70% Sand TR

13475´ 13490´ 10% Claystone, 20% Sandstone, 70% Sand

13490´ 13495´ 20% Claystone, 30% Sandstone, 50% Sand
13495´ 13500´ 10% Claystone, 30% Sandstone, 60% Sand
13500´ 13509´ 10% Claystone, 40% Sandstone, 50% Sand

Samples contaminated with CaCO3 as mud additive, pipe dope & abundant metal shavings.
GAS SHOWS
INTERVAL TOTAL GAS % C-1 C-2 C-3 C-4 C-5 REMARKS
13469' 13509' 0.0064 0.0393 0.008 0.0047 0.0013 0.0007 BGG While circulating
13469´ 0.0358 0.0264 0.0054 0.003 0.0007 0.0003 Trip Gas
13471´ 13478´ 0.1889 0.1486 0.0257 0.0103 0.0032 0.0011 FM Gas
### 13485' 13509' 0.111 0.0832 0.0156 0.0086 0.0025 0.0011 FM Gas

OIL SHOWS
INTERVAL FORMATION STAIN FLUO CUT FLUO RESIDUE REMARKS
% color % Color Slw/Fast Form Color Fluo

FORMATION TOPS
BY SAMPLES FROM LOGS REMARKS-LITHOLOGY-NEXT TOP AND
FORMATION PROGNOSIS
CASING/LINER POINT
MEASURED DEPTH TVD TVD (S.S.) MD TVD TVD (s.s.) THICKNESS

C-2 1180 2602 2599 1133 2602 2600 1132 2572

C-3 1941 3204 3201 531 3204 3200 532 600
C-4 3680 3715 3710 8 3715' 3710 22 510Homogeneous Claystone section
C-5 4755 5069 5062 -1360 5069' 5053 -1321 1343 Lithological change appear SST & SLST, increase BGG
C-6 6810 6816 6788 -3056 6816' 6788 -3056 1735 Appears dominantly Claystone sequence
C-7 7610 7620 7590 -3858 7620' 7591 -3859 803 Lithological change appear SST & SLST, change BGG trend
C-8 7913 7801 7772 -4040 7801' 7771 -4039 180Appears Claystone sequence; BGG decrease; ROPincrease
MIRADOR 8550 8548 8518 -4816 8556 8525 -4793 754Appear Sandstone, Siltstone, BGG increase.
CUERVOS 8994 8995 8963 -5231 8992 8961 -5229 436 Appears of red mot wh to yelsh brn CLYST, BGG drop.
BARCO 10174 10172' 10139' -6407 10189 10156 -6424 1195 Appear of Quartzose v f- to c gr SST, increase BGG
GUADALUPE 10793 10763' 10728' -6966 10807' 10772 -7040 616 Appear dk gy, silty CLYST and vf g, glauconitic SST
GACHETA 11566 11577' 11542' -7810 11575' 11539 -7807 767 Appear gysh blk and gysh rd purp Clyst, increase on Gas
UNE 12898 12905´ 12867´ -9135 12912' 12872 -9140 Lithological change increase SLST, increase BGG & correlation w/Medina1
TD 16348

COST (US$)
AFE US$ Daily Cost (US$) Cum. Cost (US$) Executed %

48,996,665 98,719 35,590,632 72.64

PROGRESS SUMMARY

RIH from 1036' to 8100'. W/ 3 1/2" DP. Break circulation. Change elevator. RIH from 8100' to 10001'. W/ 5" DP. RIH from 10001' to 13253'. Ream from 13253' to 13407'. Pump 35 bls of viscosity-heavy pill and displace to surface. Ream
from 13407' to 13469'. Drill from 13469' to 13509’. Pump 35 bls of high viscosity pill and displace to surface. Reciprocate string. POOH from 13509’ to 12904’. Check flow 10 minutes. OK. Pump 35 bls of heavy pill and displace. Continue
POOH from 12904’ to 8100’.

UPDATE (00:00 - 06:00)

POOH from 8100' to 1036'. W/ 3 1/2" DP,POOH from 1036' to surface W/ BHA # 123. M/U and RIH BHA # 124 to 51´. W/ 6" PDC bit # 43

Daily metal shavings: 358 grs. 6¨ Section. Accum metal shavings: 7724 grs.
Daily Mud losses: 64 bls. Acummulate mud losses: 112917 bls. Mud losses between 00:00 - 06:00 : 14 bls.
Rice test @ 13509’ :Theoric Lag : 8097 stks. Real
Lag : 8000 stks. Average open hole :6¨
Remarks BIT OUT # 42 ( Type: STX-DS50DX2 , S/N: 5063972 , HUGHES). Bit condition: 2-4-BT-G-E-1-WT-BHA.
RIH WITH BIT#43 6" PDC bit # 43 ( Type: M1209X , S/N: JW5771, Nozzles: 3 X 14/32". Smith. ), 5 7/8" Near bit spiral stab, 4 3/4" DC, 5 7/8" Roller
reamer, 4 3/4" and PBL sub

Tentative Une Formation top at 12905’ MD (12867’ TVD, -9135 VSS) based on lithological change, increasing BGG, change in ROP trend, correlation
Formations encountered with Medina 1 well and based on typical UNE Formation column.

Next 24 hrs activity: Drill to the coring point

Improvement activities

opportunity.

Reported By: Alvaro Pinzón Reported to: Victor Nosenkov