LatinPetroleum LatAm NRGProspector 2Q15 Sampler

LATINPETROLEUM LATAM NRGProspector

2Q:15

ExxonMobil Makes Significant Guyana Find ExxonMobil-PDVSA Sell Chalmette Refinery Venezuela Oil Attractive To 'Imperial Politics'

Guyana Continues Pursuit of Diplomacy With Venezuela

LATAM RIG COUNTS

IN THIS ISSUE 5.June.2015

SHORT 12-PG VERSION OF LATAM NRGPROSPECTOR ORIGINAL 43-PG VERSION AVAILABLE VIA SUBSCRIPTION ON THIS PAGE: ORIGINAL TABLE OF CONTENTS

Gran Tierra Announces Increase In 2015 Capital Program With A Focus On Colombia Guyana Will Continue To Pursue Diplomatic Option In Border Dispute With Venezuela

5-6 ….. EXECUTIVE SUITE

Pemex: Contingency Attended In Platform Akal-H

Gran Tierra Announces New Executive Appointments

Environmental Protection, Key Element In Pemex’s Business Strategy: Lozoya

The Board Of Directors Of Pemex Cogeneration And Services Has Been Installed

6-8 ….. RATING AGENCY UPDATES Fitch Affirms Local And International Ecopetrol's Ratings

Venezuela To Boost Gas Sector Investments As It Eyes Export Markets, Floating Lng Venezuela Oil Reserves Attractive To 'Imperial Politics' Says Electric Energy Minister Jesse Chacon Seaway Signs T&I Contract For Venezuela's Perla Offshore Gas Project

Moody's Maintains Ecopetrol's International Long Term Rating At Baa2

U.S. District Court Enters Default Against Venezuela In Proceedings To Confirm $740 Million Award Instituted By Gold Reserve

Moody's Affirms Ecopetrol's Ratings And Assigns Baa2 Rating To Its Proposed Notes

37-38 ….. NRG UPDATE: LATAM

8-37 ….. NRG REEL: LATAM Baker Hughes Announces First Quarter Results: Latin America Petrobras Reports Sale Of Interest In Concessions Of Bijupirá And Salema Brazilian Oil And Gas Industry Offers Favorable Environment For Foreign Investment Petrobras Signs $5 Billion Funding Agreement With China Development Bank Pre-Salt Production Operated By Petrobras Sets New Record And Exceeds 800,000 B/D

Countries covered: Guyana, Mexico and Venezuela.

39 ….. DIVESTMENT TRACKER 39 ….. EQUITY/DEBT TRACKER 40 ….. M&A TRACKER 41-42 ….. ROTARY RIG TRACKER LatAm oil, gas and misc. breakdown LatAm land (onshore) and offshore breakdown

ON THE COVER …

Chalmette refinery located along the banks of the Mississippi River in Louisiana, USA. Photo credit: LatinPetroleum.com

ABBREVIATIONS HYDROCARBON SECTOR B/d: Barrels per day Bbls: Barrels Bcf: Billion cubic feet Bcfe: Billion cubic feet equivalent Bcm: Billion cubic meters Bln: Billion Boe/d: Barrels per day equivalent EHCO: Extra heavy crude oil E&P: Exploration and Production Faja: Venezuela’s Orinoco heavy oil belt Ft: Feet JV: Joint venture LNG: Liquefied natural gas LPG: Liquefied petroleum gas M3: Cubic meters M2: Square meters M: Meters Mbbls: Thousands of barrels Mcf: Thousand cubic feet Mcfe: Thousand cubic feet equivalent MMbbls: Millions of barrels MMBtu: Millions of British thermal units MMcm: Million cubic meters MMcf: Million cubic feet MMcfe: Million cubic feet equivalent Mscf: Thousands of standard cubic feet MMscf: Millions of standard cubic feet MMscf/d: Millions of standard cubic feet per day MTPA: Million tons per annum MTPY: Million tons per year NGLs: Natural gas liquids PPM: Parts per million Tcf: Trillion cubic feet Tcfe: Trillion cubic feet equivalent Tcm: Trillion cubic meters WTI: West Texas Intermediate Note: All monetary figures are in USA dollars unless stated otherwise.

FINANCIAL CAPEX: Capital expenditures DD&A: Depreciation, deletion and amortization LOI: Letter of Intent MOU: Memoranda of Understanding YE: Year end WI: Working interest STATE OIL ENTITIES (COUNTRY) ANCAP: Administración Nacional de Combustibles, Alcoholes y Portland (Uruguay) Cupet: Cubapetróleo (Cuba) Ecopetrol: Empresa Colombiana de Petróleos S.A. (Colombia) ENAP: Empresa Nacional de Petróleo (Chile) PDVSA: Petróleos de Venezuela S.A. (Venezuela) PEMEX: Petróleos Mexicanos (Mexico) Petrobras: Petróleo Brasileiro S.A. (Brazil) PetroEcuador: Ecuador PetroPeru: Peru Petrotrin: Petroleum Company of Trinidad & Tobago Ltd. YPFB: Yacimientos Petrolíferos Fiscales Bolivianos (Bolivia) OTHER OIL & GAS ORGANIZATIONS API: American Petroleum Institute EIA: Energy Information Administration MEEI: Ministry of Energy and Energy Industries (Trinidad and Tobago) MENPET: Ministry of Energy and Petroleum (Venezuela) OPEC: Organization of Petroleum Exporting Countries REGIONAL INITIATIVES ALBA: Bolivarian Alternative for America CELAC: Community of Latin America and Caribbean states Petrocaribe: Petrocaribe oil initiative

EXECUTIVE SUITE GRAN TIERRA ANNOUNCES NEW EXECUTIVE APPOINTMENTS Gran Tierra Energy Inc. announced several new executive appointments effective immediately.

-- Ryan Ellson, Chief Financial Officer -- Alan Johnson, Vice President, Asset Management -- Lawrence West, Vice President, Exploration -- Jim Evans, Vice President, Corporate Services.

[Gran Tierra Energy Inc., 11.May.2015] THE BOARD OF DIRECTORS OF PEMEX COGENERATION AND SERVICES HAS BEEN INSTALLED The organic statute containing the organization and functions of the new productive state¬-owned subsidiary Pemex Cogeneration and Services was approved during the installation session of the Board of Directors. The statute will become effective after its publication in the Official Gazette of the Federation. [PEMEX, 30.Jun.2015]

PETROBRAS ANNOUNCES NEW COMPOSITION OF THE AUDIT COMMITTEE Petrobras’ Board of Directors has unanimously approved the new composition of its Audit Committee, by appointing Directors Luiz Nelson Guedes, Luiz Augusto Fraga Navarro de Britto Filho and Roberto da Cunha Castello Branco as the new members of this Committee. [Petrobras, 8.May.2015]

RATING AGENCY UPDATES FITCH AFFIRMS LOCAL AND INTERNATIONAL ECOPETROL'S RATINGS Fitch Ratings affirmed Ecopetrol S.A.'s foreign and local currency Issuer Default Ratings at 'BBB' and 'BBB+', respectively. Concurrently, Fitch has affirmed the company's national scale short and long-term ratings of 'F1+(col) and 'AAA(col). The Rating Outlook for all ratings is Stable. [Ecopetrol S.A., 22.Jun.2015]

STANDARD & POOR'S MAINTAINS ECOPETROL S.A.'S LONG TERM CORPORATE CREDIT RATING AT BBB Ecopetrol S.A. reported that the credit rating agency Standard & Poor's has maintained Ecopetrol's long term corporate credit rating at BBB with a stable outlook. [Ecopetrol S.A., 1.Jul.2015] MOODY'S CHANGES PBF HOLDING'S RATING OUTLOOK TO POSITIVE Moody's Investors Service changed PBF Holding Company LLC's rating outlook to positive from stable.

Moody's also affirmed PBF's Ba3 Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating, and Ba3 senior secured notes ratings following its announced acquisition of the Chalmette refinery.

[Moody's, 22.Jun.2015]

PETROBRAS DIVESTMENT PLAN DOES NOT CONTAIN PRE-SALT ASSETS Petrobras' approved divestment plan does not contain pre-salt assets. As reported in a Material Fact on 2.Mar.2015, Petrobras has approved a divestment plan with a total value of $13.7 billion for 2015 and 2016. [Petrobras, 15.Apr.2015] PETROBRAS REPORTS SALE OF ASSETS IN ARGENTINA The Board of Directors of Petrobras Argentina (PESA) approved the sale of all of its assets in the Austral Basin (province of Santa Cruz) to Compañia General de Combustibles S.A. (CGC) for $101 million.

[Petrobras, 31.Mar.2015] PETROBRAS SIGNS $5 BILLION FUNDING AGREEMENT WITH CHINA DEVELOPMENT BANK On 19.May.2015, Petrobras signed a cooperation agreement with the China Development Bank (CDB) for the years 2015-2016. [Petrobras, 20.May.2015]

TOP FINANCIAL

PETROBRAS ANNOUNCES PRICING OF BONDS IN INTERNATIONAL MARKET Petrobras announced the pricing of its corporate bonds in U.S. dollars with a 100-year term, issued through its wholly owned subsidiary Petrobras Global Finance B.V. and unconditionally guaranteed

by Petrobras. [Petrobras, 2.Jun.2015]

PETROBRAS REPORTS SALE OF INTEREST IN CONCESSIONS OF BIJUPIRÁ AND SALEMA Petrobras signed with PetroRio S.A. contracts for the sale of 20% of its stake in the concessions of Bijupirá and Salema fields, currently operated by Shell. The transaction amounts to $ 25 million and is subject to adjustments that are common to this type of operation. [Petrobras, 2.Jul.2015]

PETROBRAS AUTHORIZES STUDIES FOR PUBLIC OFFERING OF PETROBRAS DISTRIBUIDORA S.A. SHARES Petrobras’ Executive Board, at a meeting held on 30.Jun.2015, authorized studies to be prepared analyzing strategic alternatives for its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR).

[Petrobras, 1.Jul.2015]

BRAZILIAN OIL AND GAS INDUSTRY OFFERS FAVORABLE ENVIRONMENT FOR FOREIGN INVESTMENT Brazil offers opportunities for foreign companies planning to operate in the country’s oil and gas sector. This message was conveyed in Houston, U.S.A., by Paulo Sergio Rodrigues Alonso, an advisor to Petrobras’ CEO, at the event entitled “Oil & Gas in Brazil: Scenarios and Opportunities,” held by the Brazil-Texas Chamber of Commerce (Bratecc).

[Petrobras, 6.May.2015]

PETROBRAS REQUESTS TO ASSIST THE FEDERAL PROSECUTORS OFFICE On 24.Apr.2015, Petrobras submitted a request to assist the Federal Prosecutors Office in seven criminal lawsuits related to Operação Lava Jato (Operation Car Wash), in which the company is the th defendant. These lawsuits have been filed at the 13 Federal Court in Curitiba (Paraná state). [Petrobras, 28.Apr.2015]

NRG REEL

HARVEST NATURAL RESOURCES ANNOUNCES $32.2 MILLION IN FUNDING Harvest Natural Resources, Inc. announced that CT Energy Holding SRL, a Venezuelan-Italian consortium, has agreed to purchase from Harvest senior secured notes, convertible notes and warrants. Harvest will immediately receive proceeds of $32.2 million from the sale of the senior secured notes and convertible notes. Harvest could realize up to $42.5 million in additional proceeds from the full exercise of the warrants, which is subject to stockholder approval. Harvest will use proceeds from CT Energy Holding SRL to repay its existing long-term debt and to reposition Harvest for long-term growth, both in Venezuela and Gabon. [Harvest Natural Resources, Inc., 19.Jun.2015] EXXONMOBIL SELLS SHARE OF CHALMETTE REFINING, LLC IN LOUISIANA ExxonMobil reached an agreement with PBF Energy Inc. for the sale and purchase of its 50% interest in Chalmette Refining, LLC in Chalmette, Louisiana.

PBF will purchase 100% of Chalmette Refining, LLC, which is a JV between affiliates of Petróleos de Venezuela, S.A. (PDVSA) and ExxonMobil. [Exxon Mobil Corporation, 18.Jun.2015] ECOPETROL S.A. PRESENTS THE DETAILS OF THE 2014 EARNINGS DISTRIBUTION PROPOSAL APPROVED AT THE ORDINARY SHAREHOLDERS ASSEMBLY Ecopetrol S.A. at the direction of the Finance Superintendence, hereby publishes the earnings distribution proposal that was approved by the Shareholders Assembly of 26.Mar.2015. [Ecopetrol S.A., 24.Jun.2015]

TOP PETROLEUM BAKER HUGHES ANNOUNCES 1Q RESULTS: LATIN AMERICA Baker Hughes Incorporated announced results for the 1Q:15. Latin America revenue was $493 million for the 1Q:15, down $37 million, or 7%, compared to the 1Q:14. The drop in revenue can be attributed to activity declines in the Andean area, as reflected in a 24% decline in the rig count, and revenue declines in Venezuela from both lower rig count activity and unfavorable exchange rates as a result of the currency devaluations that occurred in the 2Q:14.

[Baker Hughes Incorporated, 21.Apr.2015]

GUYANA WILL CONTINUE TO PURSUE DIPLOMATIC OPTION IN BORDER DISPUTE WITH VENEZUELA Guyana's President David Granger reiterated that diplomacy will remain as his country's first option as it stands resolute against all forms of aggression.

[GINA, 9.Jul.2015] GEOPARK ANNOUNCES INDEPENDENT EXPLORATION POTENTIAL EVALUATION OF LATIN AMERICAN PORTFOLIO GeoPark Limited announced the results of an independent audit of the Company's exploration resources as of 31.Dec.2014, prepared by Gaffney, Cline & Associates (GCA).

GeoPark has interests in 31 blocks, covering over six million acres, in 12 proven hydrocarbon basins, in five Latin American countries, with a risk-balanced mix of production, development, exploration and unconventional resource opportunities. GeoPark's current production is approximately 19,500 boe/d and oil and gas reserves (including Peru), as of 31.Dec.2014 certified by DeGolyer & MacNaughton, include proven (P1) reserves of 63 MMboe, proven and probable (2P) reserves of 122 MMboe, and proven, probable and possible reserves (3P) of 221 MMboe. DeGolyer & MacNaughton has estimated the Net Present Value (NPV10) of GeoPark's 2P reserves to be $1.7 Billion (using a forward oil price curve beginning at $50/bbl for 2015). [GeoPark Limited, 6.Jul.2015]

BRAZIL PETROBRAS RECEIVES R$157 MILLION BACK THROUGH "OPERAÇÃO LAVA JATO" ANTICORRUPTION PROBE Petrobras CEO Aldemir Bendine participated in a ceremony to return to Petrobras sums recovered through the Federal Police’s “Operação Lava Jato” anti-corruption investigation. At the event, a symbolic handover of R$157 million to the company took place, in reference to the sums retrieved by the Federal Public Prosecution Ministry through Operação Lava Jato. The ceremony was held at the headquarters of the Office of the Chief Federal Prosecutor, in Brasília. These sums were kept in secret accounts in Switzerland and repatriated through joint work by the Federal Public Prosecution Ministry, the Federal Police, the Federal Revenue Service and the Federal Courts. [Petrobras, 13.May.2015]

KAROON CONFIRMS OIL DISCOVERY AT ECHIDNA-1 WELL IN SANTOS BASIN Karoon Gas Australia Ltd. Agnnounced that a 699 foot (213 meter) gross oil column has been confirmed in the Echidna-1 exploration well in Block S-M-1102, Santos Basin offshore Brazil from wireline pressure data across the Paleocene and Maastrichtian aged reservoir intervals. Physical oil samples recovered measure a 39.5 degree API oil gravity.

Partners in the block S-M-1102, Santos Basin, Brazil include: Karoon (Operator, WI 65%) and Pacific Rubiales Energy Corp. (WI 35%). [Karoon Gas Australia Ltd., 21.Apr.2015] DOUGLAS-WESTWOOD: 'BRAZIL - IN DEEP TROUBLE' Douglas-Westwood commented on "Brazil – In Deep Trouble" in its latest edition of DW Monday.

Petrobras has long been a pioneer in the adoption and deployment of deepwater technology. This has enabled them to build huge reserves of some 16 billion barrels of oil. Converting these reserves to production, however, is another matter and Petrobras has a history of setting ambitious targets, with a poor record of meeting them. [DouglasWestwood, 7.Jul.2015]

COLOMBIA ECOPETROL REPORTS ON THE AUTHORIZATION RECEIVED FROM THE MINISTRY OF FINANCE AND PUBLIC CREDIT Ecopetrol S.A., as part of the procedures required for keeping available debt alternatives to finance its investment plan, has obtained authorization from the Ministry of Finance and Public Credit, pursuant to Resolution 0928 of 10.Apr.2015, to arrange for debt issuances in international capital markets in an aggregate amount of up to $3.175 billion. [Ecopetrol S.A., 14.Apr.2015] COUNCIL OF MINISTERS ISSUES FAVORABLE OPINION ON PLANNED SALE OF ECOPETROL S.A.'S EQUITY STAKE IN INTERCONEXION ELECTRICA S.A. E.S.P. Ecopetrol S.A. announced that pursuant to the procedures required by Law 226 of 1995, the Council of Ministers has issued an opinion in favor of the planned sale of Ecopetrol's equity stake in Interconexión Eléctrica S.A. E.S.P. which was approved by Ecopetrol's Board of Directors.

[Ecopetrol S.A., 14.Apr.2015]

ECOPETROL GROUP ANNOUNCES ITS RESULTS FOR THE FIRST QUARTER OF 2015 Ecopetrol S.A. reports the Group's financial results for the 1Q:15, prepared and filed in Colombian pesos (COP$) and on the basis of International Financial Reporting Standards (IFRS).

In the opinion of Ecopetrol's CEO, Juan Carlos Echeverry: Despite the decline in oil prices, in the 1Q:15 the Group reached a positive financial result due to the good performance of its different segments and favorable environment conditions for the operation. Thus, operating and financial results of the Group on the 1Q:15 were better than those of the 4Q:14. Particularly, March was the best month of the 1Q:15. [Ecopetrol, 12.May.2015] ECOPETROL REINVENTS ITSELF TO COMPETE IN THE WORLD BASED ON VALUE GENERATION AND SUSTAINABILITY Ecopetrol S.A.'s Board of Directors approved a new corporate strategy aimed at guaranteeing the company's long-term sustainability, in which value generation based on efficient barrels and shareholder return become a priority. [Ecopetrol, 26.May.2015] GRAN TIERRA ANNOUNCES INCREASE IN 2015 CAPITAL PROGRAM WITH A FOCUS ON COLOMBIA Gran Tierra Energy Inc. announced an increased 2015 capital program. The increased capital is intended to provide accelerated development drilling at the company's core producing assets in the Putumayo Basin in Colombia, specifically the Moqueta and Costayaco fields on the Chaza Block. In addition, the company expects to accelerate the required laboratory and feasibility studies for enhanced oil recovery techniques in the Costayaco and Moqueta fields.

During the 1Q:15, the company incurred $74 million of the $140 million 2015 capital program.

Gran Tierra's board of Directors has approved a $45 million increase to its 2015 capital program to $185 million. [Gran Tierra Energy Inc., 24.Jun.2015]

MEXICO PEMEX PRESENTS ITS SAFETY, HEALTH AND ENVIRONMENTAL PROTECTION STRATEGY 20152025 Petroleos Mexicanos presented its Safety, Health and Environmental Protection Strategy 2015-2025 (SSPA, for its acronym in Spanish) which outlines actions to strengthen safety and reliability culture of operations in a safe and efficient manner enabling greater productivity.

After pointing out that Pemex is on the verge of a new phase of its history, Pemex CEO, Emilio Lozoya, asserted that safety, besides protecting workers welfare, is essential to compete in current and future markets. ``We are determined, he emphasized, in promoting an ambitious transformation process of Pemex to address the new reality in which we operate,'' said Lozoya. [PEMEX, 28.May.2015] THE MEXICAN PETROLEUM CONGRESS OPENS WITH THE PARTICIPATION OF 270 COMPANIES The Ministry of Energy (SENER), Pedro Joaquín th Coldwell, opened the 10 Mexican Petroleum Congress at the Guadalajara Expo, which brought together 270 national and international companies with more than eight thousand participants from 12 countries.

The event was attended by the CEO of Pemex, Emilio Lozoya, and the governor of Jalisco, Aristóteles Sandoval. [PEMEX, 10.Jun.2015] PEMEX ANNOUNCES THE DISCOVERY OF NEW OIL DEPOSITS IN THE GULF OF MEXICO Emilio Lozoya, CEO of Petróleos Mexicanos, announced the first hydrocarbon discoveries made took advantage of the new tools provided by the Energy Reform. This is the first tangible result in exploration activities, after the approval of the reform in Aug.2014.

Taking into account the short period for its development and the size of the deposits found, these discoveries represent the greatest exploratory success of Pemex in the last 5 years after the TsiminXux and Ayatsil discoveries. [PEMEX, 10.Jun.2015]

PEMEX: CONTINGENCY ATTENDED IN PLATFORM AKAL-H Specialized Pemex staff is taking care of the oil and gas leakage incident that occurred in the satellite platform Akal-H in the Campeche Sound. Fortunately, there are no injuries to report. [Pemex, 22.Jun.2015] PEMEX AND BLACKROCK SIGN MOU TO DEVELOP ENERGY INFRASTRUCTURE Petróleos Mexicanos and BlackRock signed a Memorandum of Understanding (MOU), in order to accelerate the development and financing of energy infrastructure projects that are considered a strategic priority for Pemex. [PEMEX, 6.Jun.2015] PEMEX AND STPRM INSTALLED THE NEGOTIATING TABLE TO REVIEW THE COLLECTIVE LABOR AGREEMENT 2015-2017 Petróleos Mexicanos (Pemex) and the Petroleum Workers’ Union (STPRM, Sindicato de Trabajadores Petroleros de la República Mexicana, for its acronym in Spanish) started negotiations for the revision of the Collective Bargaining Agreement 2015-2017, which will come into force on 1.Aug.2015. [PEMEX, 16.Jun.2015] ENVIRONMENTAL PROTECTION, KEY ELEMENT IN PEMEX’S BUSINESS STRATEGY: LOZOYA Maintaining or improving competitiveness in the oil industry will increasingly require a better environmental performance. Therefore, environmental protection is currently one of the key elements in the company’s business strategy along the value chain, Emilio Lozoya, CEO of Petróleos Mexicanos (Pemex), stated at the "Pemex-2015 5th Environmental Conference". [PEMEX, 14.Jun.2015]

VENEZUELA VENEZUELA TO BOOST GAS SECTOR INVESTMENTS AS IT EYES EXPORT MARKETS, FLOATING LNG Petroleos de Venezuela SA (PDVSA) plans to boost investments in the Venezuelan natural gas sector over the next five years in order to almost double production to meet increasing domestic demand, reduce its reliance on fuel imports and eventually export excess gas volumes to generate additional dollar income. [LatinPetroleum.com, 18.Jun.2015]

VENEZUELA OIL RESERVES ATTRACTIVE TO 'IMPERIAL POLITICS' SAYS ELECTRIC ENERGY MINISTER JESSE CHACON "Venezuela is attractive to imperial politics because of the size of its petroleum reserves," Venezuela's Electric Energy Minister Jesse Chacon said in broadcast on state television.

[LatinPetroleum.com, 8.Apr.2015] CB&I ANNOUNCES STORAGE TANK AWARD IN VENEZUELA CB&I was awarded a contract for approximately $60 million for the engineering, procurement, fabrication and construction of storage tanks in Venezuela.

"CB&I has a long history in Venezuela for providing reliable storage solutions at the highest quality," said Luke Scorsone, President of CB&I's Fabrication Services operating group. "This award underscores the confidence the customer has in CB&I to continue to provide fabrication work for their projects safely and on-time." [CB&I, 1.Apr.2015] WISON SUCCESSFULLY DELIVERED ITS FIRST BATCH OF STICK BUILT FOR RPLC REFINERY PROJECT Wison Offshore & Marine Ltd. announced the delivery of its first batch of stick built for the key modularized components construction of the Petroleos De Venezuela, S.A.(PDVSA) Puerto La Cruz refinery project, achieving an important project milestone which demonstrated the strong capabilities of Wison Offshore & Marine in module fabrication. [Wison Offshore & Marine Ltd., 21Apr.2015] HARVEST NATURAL RESOURCES ANNOUNCES 2015 FIRST QUARTER RESULTS Harvest Natural Resources, Inc. (HNR) reported a 1Q:15 net loss of approximately $5.6 million, or $0.13/share diluted, compared with a net loss of $8.0 million, or $0.19/share diluted, for the same period last year. The 1Q:15 results included exploration charges of $1.9 million, or $0.04/share diluted.

Adjusted for exploration charges, Harvest would have posted a 1Q:15 net loss of approximately $3.7 million, or $0.09/share diluted, before any adjustment for income taxes. [Harvest Natural Resources, Inc., 19.May.2015]

U.S. DISTRICT COURT ENTERS DEFAULT AGAINST VENEZUELA IN PROCEEDINGS TO CONFIRM $740 MILLION AWARD INSTITUTED BY GOLD RESERVE Gold Reserve Inc. reported on developments in the proceedings instituted in the U.S. District Court for the District of Columbia to confirm the $740 million arbitral award dated 22.Sep.2014 rendered against the Bolivarian Republic of Venezuela. On 27.Mar.2015, the Court entered a default against Venezuela following its failure to file an appearance within the prescribed deadlines in the proceedings instituted by the company. [Gold Reserve Inc., 30.Mar.2015]

NRG BRIEFS GUYANA (GUY) EXXONMOBIL ANNOUNCES SIGNIFICANT OIL DISCOVERY OFFSHORE GUYANA Exxon Mobil Corp. announced a significant oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana.

The well was drilled by ExxonMobil affiliate, Esso Exploration and Production Guyana Ltd., and encountered more than 295 ft (90 m) of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825 ft (5,433 m) in 5,719 ft (1,743 m) of water.

Stabroek Block is 6.6 million acres (26,800 km2).

[Exxon Mobil Corporation, 20.May.2015]

MEXICO (MX) PEMEX CARRIES OUT SUCCESSFUL AUCTION OF PETROLEUM COKE Petróleos Mexicanos carried out, for the third time, an online auction of partial lots of petroleum coke from the "Gral. Lázaro Cárdenas”, refinery located in Minatitlán, Veracruz. [PEMEX, 22.May.2015]

VENEZUELA (VEN) HARVEST CAPEX PLAN SET AT $265 MILLION Harvest Natural Resources said that during the 1Q:15, Petrodelta drilled and completed four development wells and sold approximately 3.63 MMbbls for an average of approximately 40,377 bo/d, a decrease of 6% over the 1Q:14. [Harvest Natural Resources, Inc., 19.May.2015]

LATIN AMERICA RIG COUNT TRACKER ROTARY RIG COUNT Oil

Gas

Misc.

LatAm

Land

O⁄S

LatAm

Dec.2012 Dec.2013 Dec.2014

352 364 329

57 49 40

5 4 0

414 417 369

341 341 287

73 76 82

414 417 369

Jan.2015 Feb.2015 Mar.2015 Apr.2015 May.2015

319 307 315 296 302

31 26 34 26 23

1 22 2 3 2

351 355 351 325 327

272 283 284 261 258

79 72 67 64 69

351 355 351 325 327

Source: Baker Hughes

ROTARY RIG COUNT (LAND, OFFSHORE)

Argentina Bolivia Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Trinidad Venezuela Other Total LatAm Source: Baker Hughes

May.2015 Land O⁄S

Apr.2015 Land O⁄S

Mar.2015 Land O⁄S

Feb.2015 Land O⁄S

103 5 18 3 23 0 15 28 1 2 60 0 258

106 4 20 3 24 0 15 33 2 2 52 0 261

111 6 20 4 30 0 16 34 2 2 59 0 284

105 7 21 4 32 0 19 26 1 2 66 0 283

1 0 25 0 1 0 0 32 1 1 8 0 69

1 0 23 0 1 0 0 34 1 1 3 0 64

1 0 24 0 1 0 1 34 2 1 3 0 67

1 0 23 0 1 0 0 37 3 1 6 0 72

ROTARY RIG COUNT (OIL, GAS, MISC.)

Argentina Bolivia Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Trinidad Venezuela Other Total LatAm

Oil

May.2015 Gas Misc.

LatAm

96 2 41 0 24 0 15 54 2 1 67 0 302

8 3 2 3 0 0 0 4 0 2 1 0 23

104 5 43 3 24 0 15 60 2 3 68 0 327

0 0 0 0 0 0 0 2 0 0 0 0 2

Oil

Apr.2015 Gas Misc.

LatAm

97 1 41 0 25 0 15 60 2 1 54 0 296

10 3 2 3 0 0 0 4 1 2 1 0 26

107 4 43 3 25 0 15 67 3 3 55 0 325

LatAm 106 7 44 4 33 0 19 63 4 3 72 0 355

0 0 0 0 0 0 0 3 0 0 0 0 3

Source: Baker Hughes

ROTARY RIG COUNT (OIL, GAS, MISC.)

Argentina Bolivia Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Trinidad Venezuela Other Total LatAm Source: Baker Hughes

Oil

Mar.2015 Gas Misc.

LatAm

Oil

Feb.2015 Gas Misc.

98 0 43 0 31 0 16 62 3 1 61 0 315

14 6 1 4 0 0 1 4 1 2 1 0 34

112 6 44 4 31 0 17 68 4 3 62 0 351

94 0 44 0 22 0 19 57 1 1 69 0 307

9 6 0 4 0 0 0 3 1 2 1 0 26

0 0 0 0 0 0 0 2 0 0 0 0 2

3 1 0 0 11 0 0 3 2 0 2 0 22

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