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Petro Rio S.A. HRTPF

"Petro Rio SA is engaged in exploration and production of oil and gas in Brazil and abroad. The Company is currently engaged in the hydrocarbon production in Polvo field."


GREY:HRTPF - Post by User

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Post by wrongsideoftraxon Sep 21, 2011 10:50am
335 Views
Post# 19065856

Confused?

Confused?This is the news release on Canada news wire today? Isn't this the same release as Friday?


HRT informs the discovery of hydrocarbons in the well 1-HRT-3-AM, Block SOL-T-168, in the Solimões Sedimentary Basin
09/21/2011 10:42 AM ET

RIO DE Jan, Brazil, Sep. 21, 2011, 2011 (Canada NewsWire via COMTEX News Network) -- HRT Participacões em Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP), informs that
its subsidiary, HRT O&G Exploracão e Producão de Petróleo Ltda. ("HRT
O&G"), forwarded today to the National Petroleum, Natural Gas and
Biofuels Agency (Agência Nacional do Petróleo, Gás Natural e
Biocombustíveis - ANP), a Notice of Discovery to the effect that
gaseous and liquid hydrocarbons have been observed in well 1-HRT-3-AM,
located in the Block SOL-T-168, in the Solimões Sedimentary Basin. The
well is positioned at 7.5 km northwest of the Municipal District of
Carauari, in the State of Amazonas, and was drilled by rig QG-IX
(Queiroz Galvão).

The drilling achieved a final depth of 2,680 meters, reaching the
crystalline basement. The well is presently under evaluation, after
having completed the electric logs, initiated the wireline formation
tests and the nuclear magnetic resonance, as well as the sidewall
cores. Based on the results of such evaluation, the well will be cased
to carry out the formation test to characterize the types of fluid and
the production potential of the reservoir.

It is worth mentioning that, although the presence of oil in cuttings
was not observed during drilling operations, the application of the
technique GC-MS - Gas Chromatography-Mass Spectrometry identified the
presence of liquid hydrocarbons both in the Juruá Formation
(Carboniferous age) and Uerê formation (Devonian age). This result, in
connection with humid gas anomalies, confirms HRT O&G's geological
model, which forecasts the existence of oil and humid gas in the
western portion of the permit area in the Solimões Sedimentary Basin.

This was the third drilling announced by HRT, which began on June 29,
2011.


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