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Petrolifera Petroleum provides drilling and testing update
Petrolifera Petroleum provides drilling and testing update.
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, April 13 /CNW/ - Petrolifera Petroleum Limited (PDP- TSX)\nannounced today that the RN. PM. a-1021 well, situated on the northern portion\nof the Puesto Morales/Rinconada Concession in the Neuquen Basin, Argentina,\nhas been tested and is a flowing crude oil well. The well is flowing at a rate\nof approximately 1,430 barrels of light gravity crude oil per day with a\nnormal gas/oil ratio and no water. Further testing of the well will occur over\nthe next several days utilizing various choke sizes and this will be followed\nby a pressure buildup test. The oil is flowing from what appears to be an\nexcellent reservoir, based on examination of cores which were taken from the\nwell bore during the drilling process.\n\n\nThis excellent well will be placed onstream immediately. It is associated\nwith the northern culmination at Puesto Morales and is situated southeast of\nthe original 1003 discovery well on this accumulation.\n\n\nThe 1016 well, drilled and completed earlier this campaign, is now on\npump and is producing at a rate of approximately 150 barrels of crude oil per\nday with a five percent water cut. Petrolifera is gradually increasing the\npumping rate to determine the optimum stroke rate for the pump and production\nrate for the well. This well originally flowed at a rate of about 460 barrels\nof crude oil per day but subsequently stopped flowing, necessitating being\nplaced on pump. Accordingly, further production increases from this well are\npossible. It should be noted this well was an extension to the west from the\nmain northern accumulation and did encounter poorer quality reservoir, some\npressure depletion and a high gas/oil ratio, all of which affected the ability\nof the well to flow of its own accord. Placing such a well on pump is normal\nindustry practice and commercial economic returns are anticipated from this\nwell.\n\n\nThe company also wishes to advise that the RN. PM. a-1023 well, situated\non the southern 1002-1012-1013 accumulation, is drilling ahead and should\nreach total depth sometime next week.\n\n\nPetrolifera has been advised by its drilling contractor that the\nretrofitting of the second rig to be available to the company under a\nlong-term contract is nearing completion and is anticipated to be ready for\ndrilling activity in early May 2007. It is expected this rig will pri...