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Petrolifera Petroleum announces upward revision to Brillante absolute open flow test rate
Petrolifera Petroleum announces upward revision to Brillante absolute open flow test rate
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, Apr. 26, 2010 (Canada NewsWire Group) -- /CNW/ -- Petrolifera Petroleum Limited (PDP - TSX) announced today that as a follow-up to its press release dated April 19, 2010, the company is pleased to report a significant upward revision of the previously calculated absolute open flow (\"AOF\") test rate for the Cienaga de Oro (\"CDO\") Formation in the Brillante SE-1X well, drilled on its 100% owned Sierra Nevada License in Colombia.The newly calculated AOF is 18.0 MMcf/d, a rate 5.5 MMcf/d greater than the previous estimate. The increase from the previous estimate resulted from recovery of the bottom-hole pressure data recorded during the flow and shut-in periods of the production test, which was conducted during the period from April 17, 2010 through April 20, 2010, resulting in a more accurate AOF estimation. The previous estimate used assumptions based upon information available at the time of the press release to extrapolate surface pressures to bottom-hole conditions.As previously announced, the measured rate of the drill stem test (\"DST\") conducted between 3,138 feet - 3,350 feet subsurface was 8.4 MMcf/d of dry natural gas, with no water, through a 48/64th inch choke with surface pressure at 579 pounds per square inch (\"psi\").Current plans to suspend the well until a permit to conduct a long-term test is received remain unchanged.Readers should be cautioned that measured flow rates and the calculated AOF rate may not be indicative of stabilized production rates for the Brillante SE-1X well. Further long term testing of the Brillante SE-1X well is required. Petrolifera has a right to appraise its oil and gas rights in Colombia but it does not have a right to produce same until such time as the reserves are determined to be commercial.Petrolifera Petroleum Limited is a Calgary-based crude oil, natural gas and natural gas liquids exploration, development and production company with interests in eleven concessions or licenses in Argentina, Colombia and Peru.Forward Looking Information:This press release contains forward looking information including, but not limited to, anticipated results from the CDO Formation in the Brillante SE-1X well, additional testing planned for the CDO Formation and plans to suspend the well until required permits are received to complete additional testing. Forward looking inform...