Today, Colombia is a welcoming country in more ways than one. Back-to-back elections of Álvaro Uribe have produced a safe country, with the Colombian Ministry of Commerce, Industry and Tourism reporting nearly 2 million tourists in 2006.

Meanwhile, Colombia's National Agency for Hydrocarbons (ANH) created a non-nationalized energy policy in 2003, opening the doors for oil and gas companies such as Petro Vista Energy to compete for exploration and production contracts marked by 100% ownership upon exploration success and a favorable sliding royalty rate starting at 8% for production of 5,000 barrels per day or less.

Proven and mature, Colombia offers moderate risk production exploitation opportunities with large exploration upside. Multiple stacked reservoirs represent large-scale resources, such as prospect potentials in the Magdalena area of 50 to 100 million barrels each. Producers in Colombia today include major companies such as Exxon Mobil, BP and Chevron, as well as independents such as Talisman Energy and Nexen.

Colombia Highlights:

• Numerous recent successes by Junior Oil and Gas companies - Gran Tierra, Solana, Petrominerales, etc.
• Highly improved fiscal system:
• Low royalty 8% and tax 35%
  - No State participation
  - 6 year initial exploration phase
  - Production period 24 yrs
• High success rates at 50%
• Security improvements with new Government
• Exploitation opportunities with exploration upside
• Prospect sizes in ex Magdalena area can be 50 - 100MMBO (most likely) up to 400MMBO each
  -  Highly productive reservoirs promote rapid payback