In July 2017 Conoco Phillips and Canacol subsidiary CNE Oil and Gas signed a non-traditional exploration agreement with the National Hydrocarbon Agency (ANH) for further exploration on the VMM-2 Block of the Middle Magdalena Basin. Conoco operates the acreage with 80% and partner Canacol Energy holds 20% interest.  On 28 March 2017 Canacol Energy announced successful test results in its Mono Capuchino 1 ST outpost well located in the VMM-2 Block. The test interval between 1,735 m (5,691 ft) and 1,793 m (5,884 ft ) within the Lisama sandstone reservoir yielded 1,013 bo/d of 18Â° API gravity oil, 70 bw/d and 300 Mscf/d of gas at an injection pressure of some 3,000 psi during a 34-hour test. According to the composition of water recovered during the test it is related to the drilling operations but formation water. The operator tested some 234 m (769 ft) of open hole section in the La Luna Formation which showed non-commercial quantities of heavy oil. The Mono Capuchino 1 outpost well was spudded on 17 December 2016 targeting the La Luna Formation at a proposed total depth (PTD) of 3,658 m (12,000 ft). The operator had reached a depth of 3,055 m (10,023 ft) prior to mechanical failure. Sidetrack operations were commenced in January 2017 and on 22 February 2017 the Mono Capuchino 1ST reached a total depth (TD) of 3,123 m (10,245 ft). The well intersected some 32 m (103 ft) of net oil pay and some 124 m (406 ft) of net oil pay within the Lisama and the La Luna Formations, respectively. The Mono Capuchino 1ST is expected to be placed on permanent production from the Lisama reservoir via Mono Arana field facilities in the 2Q 2017. Canacol holds a 66.7% interest in the block with partner Vetra operating with 33.3% interest. Mono Capuchino 1 ST is located some 500 m south of the Mono Arana 1 discovery made in 2012 which tested at some 600 bo/d with no water in 2014. Canacol hoped to encounter some 610 m (2,000 ft) of the La Luna Formation in the Mono Capachino 1 and if successful, 11 additional locations on the prospect were identified for possible future drilling.  The Mono Arana 1 NFW was the first well drilled on the block, which had oil and gas shows in the La Luna Formation. The Mono Arana 1 encountered approximately 232 m (760 ft) of the Upper Cretaceous La Luna Formation, with good oil and gas shows. Additional deeper prospective zones in the La Luna and Tablazo sections were not penetrated due to high pressure encountered while drilling, and casing was set within the La Luna. Canacol has a 66.7% working interest on the block where fractured shale potential will be tested. Vetra is operator with 33.3% interest in unconventional targets.  Background information In March 2008 Vetra Energy Group signed an option agreement with Petrotesting Holding Limited to acquire a 78% stake (and operatorship) in Petrotesting Colombia S.A. Vetra also had the option to purchase the remaining 22% stake.  On 18 July 2008 Vetra acquired 100% of local company Petrotesting Colombia S.A. On 4 December 2008, Petrotesting was awarded an exploration and production contract with state licensing agency National Hydrocarbon Agency (ANH) for the VMM-2 Block. On 18 February 2009, Petrotesting Colombia S.A signed the contract. The 36 month-long first exploration phase required the acquisition of 62 sq km of 3D seismic data and the drilling of one exploration well. On 10 December 2010 Vetra Energy Group commenced the acquisition of a 121 sq km 3D seismic survey over the onshore VMM-2 Block. Geoespecto SAS was contracted to shoot the survey. In May 2011 Vetra finished processing the seismic.  On 4 April 2012 Canacol Energy Ltd. announced that its subsidiary Carrao Energy Sucursal Colombia farmed out half of its 40% interest in the VMM 2 Block to ExxonMobil Exploration Colombia Limited. Canacol received USD 2.2 million upon execution of the farmout agreement for costs related to the 3D seismic acquisition in 2011. ExxonMobil carried the cost of the drilling and testing of up to three wells to test conventional and unconventional targets in the La Luna and Rosablanca Formations.  In late June 2012 the operator Vetra planned an exploration well (vertical well) to be drilled in late 2012 and two wells in 2013 (vertical, horizontal and multi-stage fractured) in the VMM-2 Block.  The Mono Arana 1 NFW was spudded on 23 September 2012 using the SAI 31 rig to test both conventional shallow light oil target in the Tertiary Liasama sandstone, and a deeper non-conventional light oil target in the fractured oil shale of the Cretaceous La Luna oil source rock. The Lisama reservoir was penetrated as anticipated at a measured depth (MD) of approximately 1,460 m (4,800 ft). Based on Canacol's petrophysical analysis of the open hole logs run across the interval, the Lisama contains approximately 26 m (85 ft) of potential net oil pay with an average porosity of 21%. Colombiaâs first fracking job was planned for 2016 by Conoco Phillips. On 3 December 2015 Conoco Phillips and Canacol subsidiary CNE Oil and Gas signed a non-traditional exploration agreement with the National Hydrocarbon Agency (ANH) for further exploration on the VMM-3 Block of the Middle Magdalena Basin. This represents the countryâs first additional contract for expanding hydrocarbon prospectivity as a result of implementing the governmentâs Accord No 3. Project investments on the Additional Contact VMM-3 are estimated at over USD 85 million, adding to the development of unconventional reservoirs and increasing Colombiaâs reserves. Shell was the former operator of VMM-3 Block Â 
ConocoPhillips (op 80%, Canacol 20%) signed with the ANH (National Hydrocarbon Agency) an unconventional hc. E&P contract for VMM-2.