GREY:PTVYF - Post by User
Post by
DTM5on Apr 12, 2010 10:16am
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Post# 16980986
Huge News!
Huge News!This is the turning point!!
Read Taylor President and CEO commented: "The results of this well including multiple pays and long life reserve potential of this field give us further confidence in our strategic plan to develop these important resources. In addition to our existing two wells which will be producing in Tartaruga in the next few weeks we expect to drill an additional two development wells targeting these Penedo reservoirs funded from cash flow. We are also excited about the high potential targets of the deeper oil pools of the proven Serraria section in Tartaruga which we will explore later in 2010 and 2011. The discovery in Tartaruga along, with our recent discovery in Morichito Block in Colombia has the potential to provide the company with significant production and cash flow in Q3-Q4 2010. In addition to these projects we have another exciting exploration well with significant upside potential to drill in La Maye Block in Colombia in July 2010."