Petrominerales tests Llanos oil find at 5,900+ b/d

Petrominerales Corp., Calgary, will conduct long-term production tests at a multizone oil discovery on its 100% owned Casanare Este block in Colombia's central Llanos basin.

The Carbonera C7 formation at the Curito-1 discovery well produced at the rate of 5,973 b/d of oil at a 2% water cut over 10 hr on electric submersible pump.

When the company shut off the ESP due to limited storage, the well had been flowing natural for 4 days at the stabilized rate of 2,700 b/d at less than 1% water cut. Total depth is 10,390 ft.

Prior to the C7 test, the well produced oil from four intervals on a progressive cavity pump:

• The Ubaque formation averaged 69 b/d of 14.5° gravity oil at 86% water cut in 44 hr.

• The Gacheta formation averaged 93 b/d of 14.3° gravity oil at 52% water cut in 65 hr.

• The Mirador formation averaged 162 b/d of 29.4° gravity oil at 70% water cut in 27 hr.

• The C7 formation averaged 593 b/d of 34.3° gravity oil at 8% water cut in 43 hr.

Petrominerales plans to drill as many as 18 wells in its portfolio in the rest of 2013 balanced between development and exploratory wells.

It will continue development drilling on the Orito and Neiva blocks, drilling as many as two more wells at Orito and up to six at Neiva. It will drill as many as two wells on the central Llanos acreage focusing on appraisal and development wells at Mantis oil field and the Curito discovery.

It will drill as many as four Llanos basin exploratory wells targeting three new deep Llanos prospects and one lower risk drilling location on the recently acquired Canaguaro block and will drill a Mochelo Sur horizontal well to validate the heavy oil commercial production plan.

Petrominerales will drill its first two wells in Brazil targeting a large, tight oil resource on newly acquired lands.

In Peru it will become exposed to the first of two high-impact exploration prospects to be drilled by its joint venture partner at no cost to Petrominerales. The company also will continue the formal process to pursue opportunities to monetize its pipeline assets.