Production - Foreign - Petroleum Developments in Colombia during 1932

The slackening of activity in oil development in Colombia, which was noted in 1931, continued throughout 1932. In the producing fields output was further curtailed and active operations were substantially reduced. Exploratory work was at the lowest level reached in a good many years. Applications and Contracts for New Concessions The areas covered by the four applications accepted by the government in 1931 for concessions on national lands were not finally awarded the applicants, although the indications are that these will be granted during the coming year. iln application of Sr. Luciano Restrepo for a concession of 49,232 hectares located on the north side of the Sogamoso River in the Municipality of Bolivar, Department of Santander, was accepted by the Government toward the end of the year. The Government is expected to take action toward granting or denying this concession during 1933. The Richmond Petroleum Co. (Standard Oil Co. of California subsidiary) leased from Manuel Davila P. and Eduardo Villar a private tract known as the Fierro Arriba and Fierro Abajo lands located in the municipality of Victoria, Department of Caldas, near Honda. The terms of the lease provide for a cash rental and royalty. The company is allowed 10 years in which to start exploratory work. The lease covers a period of 15 years and is subject to renewal by periods of similar duration. Richmond Petroleum Co. The Richmond Petroleum Co. finally abandoned its Repelon No. 3 at 4312 ft., owing to drilling difficulties. No new hole was made on this well during the year. This was the only active drilling project in the country outside the Tropical Oil Company's concession, and with its abandonment all wildcat activities in the country ceased. South American Gulf Oil Co. This company did no drilling on its Colombian properties during the year. As in the preceding years, small amounts of oil, of no commercial