This Offering further enhances Petrominerales' already substantial financial flexibility and strengthens our balance sheet. It is expected that the proceeds of the Offering will be used to fund our oil and gas exploration and development activities in Colombia and Peru, and may be used to capitalize on potential acquisition opportunities as they arise. Petrominerales Ltd. Petrominerales Ltd. is a Latin America-based exploration and production company producing oil in Colombia with 17 exploration blocks covering a total of 2.1 million acres in the Llanos and Putumayo Basins and five exploration blocks in Peru covering a total of 9.4 million gross (5.2 million net) acres in the Ucayali and Titicaca Basins.