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The French firm cited "significant delays in granting the environmental permits and licenses by local entities."

If the block proves to have the "significant potential" that the company expects, Frontera could upgrade its exploration license to the development phase.

"We've reached a head count of 150 employees, and the plan for us is to be 300-plus by the end of the calendar year," said Tushar Sharan of HGS.

"We have not said that we will not sign new search and exploration contracts," said Ecopetrol President Ricardo Roa.

“It’s as if all the stars lined up for us and what you saw were the results as of 2022, where we were able to grow 44%”

Reports say the explosion was due to the airborne presence of methane and coal dust in the mine.

Australian Ambassador Bernard Unkles explains to Finance Colombia's Loren Moss why Australians are taking such an interest in Colombia...and vice versa.

Colombia may have to choose which is most important between carbon neutrality and investment in social programs.

Frontera will also host an investor open house for analysts, investors, shareholders and bondholders on November 15 at its Bogotá offices.

Frontera has 34 E&P blocks in Colombia, Ecuador and Guyana & pipeline & port facilities in Colombia.