Petrolifera Petroleum suspends La Pinta No. 1 well after testing light gravity crude oil, experiencing casing breach below permanent bridge plug; Rig to be temporarily released to another operator

About this update from Medexus Pharmaceuticals Inc.

[{"type":"text","content":"\n\n\n\nCALGARY, July 27 /CNW/ - Petrolifera Petroleum Limited announced today\nthat it has suspended the La Pinta No. 1 well, drilled solely by it on its 100\npercent-owned Sierra Nevada License in the Lower Magdalena Basin onshore\nnorthern Colombia, after testing light gravity 44 degree API crude oil at\ninstantaneous measured rates of up to 776 barrels per day with limited\nassociated natural gas and no water, from a twenty-five foot perforated\ninterval at depths between 10,695 feet and 10,720 feet at the top of the\nCienaga de Oro Formation ("CDO"). Instantaneous rates are not reflective of\nsustainable production rates and if the La Pinta No. 1 well is remediated such\nthat commercial production is established, these production rates may differ\nmaterially from the recorded instantaneous flow rate reflected herein.\n\n\nThe flow of crude oil ceased approximately 30 minutes after the above\nflow rate was measured. A subsequent wireline survey indicated that this\nlikely occurred as a sand plug had formed in the well's tubing string at a\ndepth of approximately 6,856 feet subsurface, well above the perforated\ninterval. A coiled tubing unit was brought in to clean out the sand plug but\nthis operation had to be discontinued due to the presence of high pressures\n(estimated up to 8,000 psi) below the sand plug and the lack of pressure\ncontrol on the well during the coiled tubing operation.\n\n\nThere was evidence, including the presence of large pieces of gravel and\ncoarse sand found in the separators and the presence of formation water with\nthe same salinity as that recovered with crude oil in an earlier test of a\nlower CDO zone, which led the company to conclude that the well may have\nsuffered a casing split, or separation, below the perforated producing\ninterval. This could have propagated downwards from the perforations in the\nupper portion of the CDO due to high pressures and the fluid flow from the\nproducing interval. The casing failure may have allowed the influx of sand and\nwater into the well, which then terminated the flow of crude oil from the\nperforated interval at the top of the CDO.\n\n\nThe well has been suspended pending remediation of the sand problem and\nthe drilling rig will be released to another operator for one well for\napproximately 120 days. The drilling rig will then be returned...

More updates from Medexus Pharmaceuticals Inc.