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Petrolifera announces test results at Puesto Morales 1061 well in Argentina
Petrolifera announces test results at Puesto Morales 1061 well in Argentina.
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, Aug. 9 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) is\npleased to announce test results for its RN.PM a-1061 well on the central lobe\nof the Puesto Morales North field in the Neuquen Basin, Argentina.\n\n\nOn test, the well flowed 35 degrees API crude oil at a rate of\n1,643 bbl/d through a 50 millimeter choke and at a rate of 1,490 bbl/d on an\n18 millimeter choke, both with no water, from a lower set of perforations in\nSierras Blancas zone approximately 17 meters thick, based on log analysis. The\ncompany plans further testing of the zone through an upper set of\nperforations. The outcome of the well is expected to impact the overall aerial\nextent and reserves associated with the central lobe.\n\n\nIt is anticipated the well will be placed onstream as a flowing well with\nan initial rate of approximately 1,000 bbl/d, increasing current oil\nproduction to over 8,000 bbl/d. The company is presently drilling three wells,\ntwo offsetting the prolific 1027 well on the northern lobe of Puesto Morales,\nand one on the Rinconada Block (1006). Also, the 1033 well on the northern\nlobe remains to be tested which has been cased as an indicated Sierra Blancas\noil well with extended pay of approximately 12 meters thick.\n\n\nPetrolifera is a Calgary-based crude oil and natural gas company active\nin Argentina, Colombia and Peru. The company expects to immediately start its\nseismic program on its 3 million acre Ucayal Block 107, upon formal receipt of\napproval of its Environmental Impact Assessment study. Seismic will also be\nunderway shortly on its Gobernador Ayala Block in Argentina. Seismic on the\nVaca Mahuida Block in Argentina will commence in early 2008. Also, up to three\nadditional drilling rigs and two additional service rigs are being considered\nfor use in Argentina later this year.\n\n\nDrilling in Peru and Colombia is anticipated in 2008 following\ninterpretation of planned seismic programs.\n\n\nThis press release contains forward-looking statements, including but not\nlimited to future drilling plans, anticipated capital expenditures, forecast\nproduction, anticipated reserve additions and estimated flow rates and levels\nof water incursions. These statements are based on current expectations that\ninvolve a number of risks and uncertainties, which could cause actual results\nto differ materiall...