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These new awards bring the total to 69 petroleum drilling concessions issued under the Duque Administration.

Colombia's ANH signed 4 new contracts today, as a conclusion of the third cycle of the Continuous Area Nomination Process, PPAA. Parex Resources and CNE Oil & Gas were awarded four areas, with associated investments estimated at approximately US$ 40 million.

Canada-based Frontera Energy Corporation (TSX: FEC) has announced a successful find of oil and gas in its La Belleza-1 well in their VIM-1 block, a joint venture with Parex Resources, Inc (TSX: PXT).

Ecopetrol holds a 50% interest in the Magdalena Middle Valley's Boranda-1 well, which is operated and 50% controlled by Canadian exploration company Parex.

The 40-year industry veteran will be based in Bogotá once he officially takes over the position on February 20.