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Petrolifera updates Colombian and Argentinean drilling activity
CALGARY, March 4 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) announced today that the La Pi...
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, March 4 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX)\nannounced today that the La Pinta 1 well on its 100 percent owned Sierra\nNevada License in Colombia has reached a depth of approximately 8,300 feet and\nthat preparations are underway to run an intermediate casing string, as\nscheduled. The wellbore is being conditioned after a logging run and then the\ncasing string will be run. Petrolifera is encouraged by results thus far in\nthe drilling of the La Pinta 1 well, based on hydrocarbon shows and the\nresults of logs. Drilling of the well is running approximately 20 days behind\nschedule due to occasional mechanical issues with the rig and slow penetration\nrates through certain zones.\n\n\nIn Argentina, Petrolifera recently commenced drilling of its first\nexploratory well, PPEA.LP.LS.x-1, on its Gobernador Ayala II Concession\nlocated in La Pampa Province.\n\n\nThe well is licensed to be drilled to a depth of approximately 1,000\nmeters and is being drilled on a 3D seismically-defined prospect for heavy\ncrude oil.\n\n\nFORWARD LOOKING INFORMATION\n\n\nThis press release contains forward-looking information, including but\nnot limited to drilling activities in Argentina and Colombia and anticipated\nresults in connection therewith. This information is based on current\nexpectations that involve a number of risks and uncertainties, which could\ncause actual results to differ materially from those anticipated. These risks\ninclude, but are not limited to risks associated with the oil and gas industry\n(e.g. operational risks in development, exploration and production, delays or\nchanges in plans with respect to exploration or development projects or\ncapital expenditures; the uncertainty of reserve estimates; the uncertainty of\nestimates and projections in relation to production, costs and expenses and\nhealth, safety and environmental risks), the risk of commodity price and\nforeign exchange rate fluctuations, the uncertainty associated with\nnegotiating with foreign governments and third parties located in foreign\njurisdictions and risk associated with international activity. There can be no\nassurance that the exploratory wells being drilled by Petrolifera in Colombia\nand Argentina will result in the discovery of commercial quantities of crude\noil and natural gas or, if there is a commercial disco...