Business
Petrolifera provides operational update, comments on recently proposed changes to Argentina export tax
- New Sierras Blancas natural gas discovery at 1050 well - New pool Loma Montosa crude oil discov...
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\n- New Sierras Blancas natural gas discovery at 1050 well\n- New pool Loma Montosa crude oil discovery at 1006 well\n- New zone flowing light crude oil at 1028 well\n\n\nCALGARY, Nov. 19 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX)\nannounced today that it has made a Sierras Blancas natural gas discovery on\nits Puesto Morales Concession in the Neuquen Basin, Argentina; has made a new\npool crude oil discovery in the Loma Montosa Formation on the Block at its\n1006 well; and has completed a new zone in the Centenario Formation in its\n1028 well which flowed light crude oil at 410 bbl/d.\n\n\nThe 1050 well, situated southwest of the northern lobe on the Puesto\nMorales Block in Argentina, tested natural gas with condensate through an 8 mm\nchoke at a rate of approximately 2.4 mmcf/d with 14 bbl/d of condensate,\nincreasing to 6.5 mmcf/d with 37 bbl/d of condensate through a 16 mm choke.\nThe calculated absolute open flow (AOF) was 7.5 mmcf/d with some reservoir\nconstraints indicated. The well will be tied into the company's new high\npressure natural gas line in the next several weeks.\n\n\nThe 1006 well, situated in proximity to the La Ramona well, which was the\nfirst modern well drilled on the block several years ago, recently flowed\nlight gravity crude oil at a rate of 350 bbl/d from zone LM9 in the Loma\nMontosa Formation. Results were obtained after a frac of the zone, and proved\nup the presence and productivity of this zone, which to date had only been\ncompleted in structurally higher positions for natural gas. Follow up drilling\nand testing is underway at other nearby locations.\n\n\nThe company also recently completed a new upper zone in the Centenario\nFormation in the 1028 well, located on the eastern edge of the Puesto Morales\nBlock. This was undertaken after the initial productive zone started to\nproduce at higher water cuts; the new zone has commenced flowing light gravity\ncrude oil at a rate of 410 bbl/d.\n\n\nPetrolifera continues to drill actively in Argentina with four rigs and\nfour service rigs operating on its Puesto Morales/Rinconada Concession.\nSeismic acquisition has commenced on the company's Gobernador Ayala II\nconcession in La Pampa Province, Argentina. Additional 3D seismic programs are\nscheduled early next year on the Vaca Mahuida and Puesto Guevara Concessions\nin the Province ...