Business
Petrolifera's production growth restored - Operations update
Petrolifera's production growth restored - Operations update.
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, Sept. 12 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX)\nannounces that as a result of its recent and continuing drilling, completion\nand workover programs at Puesto Morales and Rinconada in the Neuquen Basin,\nArgentina, the company's daily crude oil production is currently at\n8,600 bbl/d with a further volume of approximately 600 bbl/d shut in due to\ntesting or workovers underway at five separate wells on the two blocks. Also,\ncurrent natural gas sales are approximately 380 boe/d, bringing the company's\ntotal production and productive capacity to approximately 9,625 boe/d.\n\n\nSince the company's last update release in mid-August 2007, the company\nhas drilled, tested and completed four wells on the Puesto Morales Block and\ntwo more wells on the Rinconada Block. The best well on the Puesto Morales\nBlock was the 1044 well, which tested at an initial flow rate of approximately\n2,000 bbl/d of light gravity crude and is currently onstream, flowing at a\nrate of approximately 1,050 bbl/d. The 1033, 1042 and 1043 wells are also oil\nproducers at current or anticipated rates of approximately 200 bbl/d, 475\nbbl/d and 500 bbl/d, respectively.\n\n\nPetrolifera has also drilled or is drilling additional wells, 1031, 1036\nand 1037 at Puesto Morales. Two of these wells, 1036 and 1037, were originally\nscheduled as water injectors to be utilized in the company's planned\nwaterflood on the northern lobe at Puesto Morales. However, the 1036 well\nencountered approximately nine meters of Sierras Blancas oil pay and\naccordingly will be tested and likely completed as an oil producer. A\nreplacement injector will now be drill downdip from the 1036 well. The 1031\nwell is presently drilling. The company will shortly post an updated map of\nthe region on its website at www.petrolifera.ca.\n\n\nRecently, Petrolifera has had three rigs working at Puesto Morales. As\nwas previously indicated, one of these rigs has now been released back to\nanother operator active in the region. However, the Quintana Rig No. 13, which\narrived from China in the past while, has substantially been relocated to a\nstaging area in Neuquen Province and is expected to be available to\nPetrolifera before the end of September 2007.\n\n\nA new drilling rig and two service rigs (including the converted Quintana\ntruck-mounted Rig No. 3) are now o...