RE: THE NEXT PRE !Whoo there... a bit of work to be done before drilling... read the release...
Llano 27 block totals 16,470 hectares and it is surrounded by producing oil and gas fields (including La Punta, Entrerrios, Santiago and Estero), and is on strike with the La Punta block 2244 oil field which has historic production of over 3.7 million barrels of oil and total recoverable field reserves estimated between six million and nine million barrels of oil and July, 2009, production rate in excess of 3,600 barrels of oil per day of 34-degree API oil from two wells (Ministerio de Minas Y Energia, Forma 9). Work commitments over the first 36-month phase total approximately $6.48-million (U.S.) and includes completion of 144 kilometres of 2-D seismic and the drilling of an exploratory well.
Llanos 36 block totals 33,356 hectares and it is also offset by producing fields (including Chichimene, Apiay and Castilla) and oil and gas infrastructure, including pipelines and roads. Work commitments of the first 36-month phase total $5.5-million (U.S.) and includes completion of 93 km of 2-D seismic and the drilling of an exploratory well.
Llanos 21 block totals 7,108 hectares and is offset by several oil fields. Work commitments of the first 36-month phase total approximately $7-million (U.S.) and includes 20 km of 2-D seismic and 50 square km of 3-D seismic, and the drilling of two exploratory wells.