Anatolia Energy Corp BEEHF

Anatolia begins drilling Las Palmeras-1 well at LL

[smithgee]

 

Anatolia begins drilling Las Palmeras-1 well at LLA-24

2012-02-21 06:15 PT - News Release

 

Mr. Peter Argiris reports

ANATOLIA ENERGY ANNOUNCES SPUDDING OF THE LAS PALMERAS-1 WELL IN COLOMBIA

Anatolia Energy Corp. has been informed by the operator that the initial exploration well (Las Palmeras-1) on the LLA-24 block in the Llanos basin in Colombia was spud on Feb. 19, 2012. The block has multizone stacked potential in the C7, Mirador, Guadalupe, Gacheta and Ubaque sandstones, and is expected to be drilled to a depth of around 8,000 feet (2,500 metres). Drilling is expected to take approximately 20 days to reach total depth and could potentially be followed by an additional 10-day testing period. Upon drilling of the Las Palmeras-1 well, Anatolia will earn a 35-per-cent interest in the block. The block covers an area of approximately 147,000 gross acres (51,450 net) and is surrounded by light-oil production and numerous oil field discoveries. Assignment of Anatolia's interest in the LLA-24 block is subject to approval by the Agencia Nacional de Hidrocarburos.

 

[hockeylad33]

Anyone know what size target they are drilling with Las Palmeras?  Cannot find it anywhere on Sedar, website or elsewhere.   ANyone save a Bolivar corp pres by chance? Thanks in advance  

[cocaine]

whats the deal here? this seems undervalued a bit as these columbia jrs have been hitting massive wells

[stuckinonoway]

not for nothing but i think better luck in turkey.the well is required under farmin in columbia but these days anything down there takes for friggin ever.the formations they are going to drill thru have all been prolific in other parts of the country but completions challenging.with sorg. as the boss info probably selective.remember that this particular lease in columbia has limited infrastructure

[hockeylad33]

Apparently they are at TD and will be testing shortly.  Traget is 1-4MM bbls, likely high IP flow rates if successful.  You are absolutely right that the red tape is beyond absurd in Colombia.  1 year lead time for env permits, 3-6 months for application to LT test successful wells, 4+ months to declare commerciality, etc etc.  Still think this stock is way too cheap.