Business
Petro-Victory Energy Corp announces Total Depth reached and Wireline Logging on PVE-01 well in onshore Brazil
Petro-Victory Energy Corp announces Total Depth reached and Wireline Logging on PVE-01 we...
About this update from Petro-victory Energy Corp Class A
[{"type":"text","content":"\n \n \n \n Petro-Victory Energy Corp announces Total Depth reached and Wireline Logging on PVE-01 well in onshore Brazil\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Oct. 18, 2022\n \n \n /CNW/ - Petro-Victory Energy Corp. (\"Petro-Victory\" or the \"Company\") (TSXV: VRY) is pleased to announce that it has reached Total Depth of\n \n 1,196m\n \n and completed the Wireline Logging program at the first of its development wells to be drilled on the Company's 100%-owned Andorinha Field in the Potiguar Basin, onshore\n \n Brazil\n \n .\n \n \n \n \n \n \n \n \n \n PVE-01 well is located approximately\n \n 250m\n \n from producing oil wells at Andorinha and targeted a separate geological compartment from the accumulations found at the main Andorinha field. The well was successfully drilled to\n \n 1,196m\n \n , encountering oil shows from\n \n 525m\n \n to the base of the well where basement formation was encountered.\n \n \n Following a program of evaluation using conventional wireline logging tools,\n \n 3.85m\n \n of net oil pay has been identified across 3 Cretaceous aged sandstone reservoirs from depths of\n \n 1110m\n \n to\n \n 1170m\n \n . A summary of the well evaluation results are included below:\n \n \n Zone 1 –\n \n 2.35m\n \n of Net Pay in a sandstone reservoir from 1,110-\n \n 1,112.5m\n \n with an average porosity of 21.5% and an average hydrocarbon saturation of 88.8% using a Sw and Vcl cutoff of <50%.\n \n \n Zone 2 –\n \n 0.75m\n \n of Net Pay in a sandstone reservoir from 1,153-\n \n 1,154.8m\n \n with an average porosity of 20.4% and an average hydrocarbon saturation of 56.1% using a Sw and Vcl cutoff of <50%.\n \n \n Zone 3 –\n \n 0.75m\n \n of Net Pay in a sandstone reservoir from 1,168.8-\n \n 1,169.8m\n \n with an average porosity of 12.6% and an average hydrocarbon saturation of 78.7% using a Sw and Vcl cutoff of <50%.\n \n \n Based on the drilling and logging results, the well has been cased and...