GREY:PTVYF - Post by User
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Hawkdogon Apr 13, 2010 12:52am
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Post# 16984391
la maye
la mayeLa Maye Operations Update
The La Maye block, consisting of 68,473 acres (27,710 gross hectares), is located within the Lower Magdalena Valley, Colombia, and adjoins the Cicuco oil field that has produced over 44 million barrels of oil and 181 billion cubic feet of gas, through June 2000, from 28 wells. Initial production rates from the area ranged from 600 to 4,000 barrels of oil per day. Oil from the Cicuco oil field is light, sweet crude, at 43 to 55 degrees API.- 7 -
The current plan for La Maye is to drill up to four wells as part of the farm-in agreement. Up to five independent prospects have already been identified.
The first well Noellia 1 was drilled in November 2009 to a total depth of 3,341 feet into basement. The top of the prospective Cienega de Oro Cicuco Limestone was encountered at 3,290 feet measured depth, 82 feet high to our prognosis. The well encountered several oil and gas shows and has been cased for future testing.
The partners are currently evaluating available data, including new data from the drilling of the first well, in order to identify all prospective play types in the block and those areas where prospective Tertiary clastic and limestone's reservoirs of the Cienega de Oro with the highest chance of success can be found. The second drilling location is being evaluated and drilling is scheduled for April/May 2010. After drilling of the second well, both wells are planned to be tested using a completion rig scheduled for May/June 2010. Should more than one well be drilled in the first 12-month period, an application to the ANH will be made to include these wells for a reduction in the subsequent year's commitments.