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Alange Energy Corp Down 1% as announces spud of first exploration well in Topoyaco

Alange Energy Corp (ALE.V) announced the spudding of the Topoyaco-1 exploration well, located in Topoyaco block of the Putumayo basin. Covering an area of over 60,000 acres, the block constitutes the largest unexplored portion of that zone in the foothills of the Andean mountain chain, which is part of a trend that has historically been highly prolific in many fields, including Costayaco, Mary, Linda, Toroyaco, Juamambu, and Azar. Alange Energy has a 50% working interest in Topoyaco, with Pacific Rubiales Energy holding the other 50%. Alange Energy is operator of this field.

The spudding of the well follows extensive, new 2D seismic carried out in the southwest portion of the block.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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