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Ecopetrol (NYSE: EC) spoke to investors last week and one of the upbeat stories was about exploration, something the NOC often gets criticized for.

The president of the Colombian Petroleum Association (ACP) Alejandro Martínez believes that not only will the number of exploratory wells in Colombia fall below expectations, it will come in below 2012 levels also.

Drilling services giant Baker Hughes recently published its international counts of active drill rigs. At 36, the Colombian count has not been this low since May 2010.

Canacol’s year end is June 30^th and it recently published its Annual Information form with Canadian securities regulators. Its proven reserves grew organically 24% and the Shona purchase allowed reserves to nearly triple.

No this is not the flag of some new country. Not even a new region of Colombia. It certainly is not the flag of the region from the eastern cordillera to the Venezuelan border that the Farc and ELN have generously offered to run on behalf of the Colombian people in a post conflict scenario.

New technologies, off shore drilling and unconventional reserves must be actively harnessed and explored if Colombia is to maintain its oil production above a million barrels a day says Germán Arce, president of the National Hydrocarbons Agency ANH.

A technical issue caused the original article to have incorrect conclusions. It has been re-issued here. We apologize for any misunderstanding this might have caused.

Charle Gamba, president of oil producer Canacol Energy (TSX: CNE.T) said that unconventional oil resources have the potential to extend Colombia’s proven reserves to 15-25 years, compared to the 7 years of reserves registered today.

The mayor of Puerto Rico, in the Caquetá Department, says that Ecopetrol (NYSE: EC) is ready to start seismic explorations in the area, bringing oil production to the region. But how will this be received by the community?

Despite running short of 2013 goals for exploration wells the president of the National Hydrocarbons Agency (ANH) Germán Arce said that the government has decided not to start off shore exploration activities in the San Andrés islands.