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Arrow Exploration Corp. Encounters 43 feet of Oil Pay in the Gacheta and Ubaque Reservoirs at Danes-1 Exploration Well in Colombia
Arrow Exploration Corp. Encounters 43 feet of Oil Pay in the Gacheta and Ubaque Reservoirs...
About this update from Arrow Exploration Corp.
[{"type":"text","content":"\n\n\n\nArrow Exploration Corp. Encounters 43 feet of Oil Pay in the Gacheta and Ubaque Reservoirs at Danes-1 Exploration Well in Colombia\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 19, 2018\n\n\n\nCALGARY, Nov. 19, 2018 /CNW/ - ARROW Exploration Corp. (operating in Colombia via its 100% owned subsidiary Carrao Energy S.A.) (\"Arrow\" or the \"Company\") (TSXV: AXL) is pleased to announce preliminary results of the Danes-1 exploration well located on the LLA-23 Block in the Llanos Basin of Colombia which is 100% owned and operated by Arrow's Colombian operating entity (Carrao Energy S.A.). The Danes-1 exploration well was spud on October 25, 2018 and Arrow's petrophysical analysis of the logging while drilling (\"LWD\") logs indicates the well encountered 43 feet true vertical depth (\"ft tvd\") of oil pay in three conventional sandstone reservoirs within the Gacheta D2 Sand, Gacheta D3 Sand and the Ubaque Formation. The Danes-1 well was designed to test the above-mentioned formations within a fault-bounded structural closure.\nGary Wine, President and CEO of Arrow, commented \"We are pleased to have encountered a number of potential pay zones within the targeted reservoirs with the Company's first well drilled in Colombia. If testing proves positive, we anticipate the well should be on production prior to the end of November and provide a material increase to our base production.\"\nThe Danes-1 well has been drilled and cased to a depth of 11,276 feet measured depth (\"ft md\") within the Ubaque Formation. The top of the Gacheta D2 Sand reservoir was penetrated at a depth of approximately 11,012 ft md, and the Gacheta D3 Sand reservoir at approximately 11,046 ft md.  Based on Arrow's petrophysical analysis of the LWD logs run across the intervals, the Gacheta D2 Sand contains approximately 10 ft tvd of potential net oil pay, with an average porosity of 28%, the Gacheta D3 Sand contains approximately 10 ft tvd of potential net oil pay, with an average porosity of 18% and the Ubaque contains approximately 23 ft tvd of potential n...