The company plans to drill the well to a measured depth of around 11,900ft, and is expected to take 45 days to drill and production test.
Leono prospect, which is expected to target producing reservoirs, is situated on the same fault trend that forms both the Rancho Hermoso and Labrador oil fields.
Leono 1 is the second exploration well on the contract to be drilled, after the Labrador oil discovery late in 2012.
The company produced around 9,642 barrels of oil equivalent per day, which includes about 6,612 barrels of oil per day and around 17.3 mmscfd of gas, before royalties for the month of October 2013.
