The well logs indicate an estimated 20ft of potential gross oil pay in the Mirador formation and 22ft in the Une formation.
The companies will begin with the testing operations of Une formation first which will be followed by the testing of the Mirador formation.
Testing of the potential zones is expected to take approximately three weeks.
Under a private private participating interest agreement both the companies will pay 50% of the gross amount and earn 45.275% of production before and 34.25% of production after payout.
The Flami-1 well was drilled with the Saxon 132 1,500 horsepower rig to a total depth of 9,300ft.
Brownstone Energy is a Canada-based energy company with direct interests in oil and gas exploration projects.
Santa Maria is a junior oil and gas company with private participating interests in four blocks in the Llanos Basin of Colombia.
