Since its creation, HOCOL has grown steadily through exploration activities. The company has established itself as the main explorer in the Upper Magdalena Valley, having discovered the majority of the oil fields in the Neiva area, including the San Francisco field, the largest in the basin.

During the last years HOCOL has not only consolidated its position in the Upper Magdalena Valley but also managed to expand its operations into other important areas of Colombia, such as the Lower Magdalena Valley and the Llanos Plains and Foothills . The company currently operates 17 blocks in Colombia (15 E&P Contracs and 2 TEA contracts)

HOCOL is constantly renewing its exploration portfolio, as evidenced by the addition of the Rio Cabrera, Guarrojo, Lince E&P contracts and El Tigre, Guepardo and Humadea TEAs during 2005. This portfolio includes equity and operatorship in the highly prospective Tángara and Mundo Nuevo blocks in the Llanos Foothills. The discovery of the La Hocha in late 2001, which is currently being developed, represents an additional success for the Company. During 2006 HOCOL will be testing several attractive prospects in different blocks of the Magdalena Valley , and Llanos Basin.

Apart from the Colombia expansion, HOCOL has a growth strategy in the Latin America. The Company is actively seeking new opportunities in the region with a fully-dedicated in-house multidisciplinary team.