The discovery of a oil well in Llanos Orientales estimated at 100 million barrels of crude — more than all other reserves discovered this year — was announced Tuesday by Colombian Minister of Mines.
Definitive data will be known by early 2009, but if confirmed the well would be the fourth largest in the country, reported El Espectador.
The discovery comes on the heels of state-owned oil company EcoPetrol making its initial stock offering on Wall Street late last week.
The minister also stated that despite recent drops in global oil prices, Colombia would not reduce its oil prices. The country currently produces 600,000 barrels of oil a day.
