On 7 February 2019 Frontera Energy and Parex Resources signed a farm-in agreement for 50% interest in the VIM-1 Block of the Lower Magdalena Basin. Per terms of the deal, which is subject to ANH approval, Frontera will fund all costs for the first USD 10 million of drilling, testing and completing the La Belleza 1 exploration well, slated to spud during Q2 2019. After this initial payout, all costs on the block will be divided evenly between Frontera and Parex.
Frontera Energy has farmed into the VIM 1 block in Colombia after striking a deal with Parex Resources. 50/50).