OTCPK:TLSMF - Post by User
Post by
syncrudeon Dec 13, 2005 1:52pm
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Post# 10014257
Lucky 13, $50M Well in Peru hits Paydirt
Lucky 13, $50M Well in Peru hits Paydirt"approximately $50 million and drilling concluded in November" Wow, that's a lot of cabbage to drill in the jungle???
13:33 EST Tuesday, December 13, 2005
LIMA -(Dow Jones)- U.S.-based Occidental Petroleum Corp. (OXY) has struck oil in its Situche Central 2X well in block 64 in Peru's northern jungle, Peruvian Energy and Mines Minister Glodomiro Sanchez said Tuesday. "A new find has taken place in the northern jungle, in Loreto," Sanchez said at a ceremony to sign several oil and gas exploration and production contracts. According to a statement from the ministry, the well has an estimated production of 2,400 barrels a day with 34 degrees API. "This is very good quality," Perupetro chief Antonio Cueto said at the same ceremony. Investment in the well was approximately $50 million and drilling concluded in November, the ministry said. Occidental operates the block with Talisman Peru Ltd., a unit of Canada's Talisman Energy Inc. (TLM), and Amerada Hess Peru, a local subsidiary of U.S.'s Amerada Hess Corp. (AHC)