Abstract SPE paper 94569 (2005) presented the generalities, characterization and initial development plan of the Guando field, an extremely underpressured, sandstone, partially naturally fractured reservoir. This paper will present global results of the initial development program and the bases which guided to implement a reduced spacing project based on decreasing wells distance from 250 to 145 meters. Results of this new development stage are presented and discussed. This project increased field reserves in 15% and accelerated the production, allowing a 15% recovery factor in just seven years since the field exploitation started and nine years from its discovery and only with a total injected water of 0.25 volumes of its original oil in place.