Maranta Block

Emerald Energy Plc. ("Emerald"), the operator of the Maranta Block where La Cortez will hold a 20% working interest, reached the intended total depth of 11,578 ft on the Mirto-1 exploration well, with oil and gas shows recorded across the four target reservoirs. Flow testing operations were completed in the Villeta U and N sands in the Mirto-1 well. As previously indicated, The Villeta U sand interval produced an average oil rate of 731 barrels per day of 32.5 degree API (American Petroleum Institute) crude. The N sand, the upper most of the four sands tested in this well, produced oil of 15 degree API at an average rate of 247 barrels per day over a 48 hour period, with an average water cut of 64%.

The well was completed with an Electric Submersible Pump (ESP) at 7,043 feet. The drilling rig was released on October 4th, 2009. Since then, the well has been on a production test from the Villeta U sand interval at an average rate of 450 bopd (barrels of oil per day) gross of good quality oil, 31.5 degree API, with an average BS&W (Basic Sediment and Water) of 50%. Well production is currently restricted due to limited water handling capacity at the site. Production tests will continue and the Operator is planning to conduct special production testing and logging to determine the source of the water production so that the necessary actions can be taken to limit the water cut and maximize oil production.

Based upon these preliminary results, it is planned to acquire some 30 km of 3D seismic in the area to determine the Maranta block development program, with a current expectation of drilling a follow-on appraisal well during the 1st half on 2010.

Effective October 12, 2009, Emerald's parent, Emerald Energy Plc, was acquired by Sinochem Resources UK Limited, a United Kingdom subsidiary of Sinochem Corporation, a state-owned enterprise with long history of nearly 60 years operating globally in core businesses of energy, chemicals, agriculture, finance and real estate.

The Maranta block covers an extension of 36,608 hectares in the foreland of the Putumayo Basin in Southwest Colombia, which has over the past several years been a region of significant new oil discoveries. Emerald's contract for this block was signed with the ANH on September 12th, 2006. Emerald completed the first phase exploratory program by reprocessing 40 Km of 2D seismic and shooting 71 Km of new 2D seismic, identifying several promising leads.