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Petrodorado Declares Discovery in Loto-1X
Petrodorado Declares Discovery in Loto-1X NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR ...
About this update from Rok Resources, Inc. Class B
[{"type":"text","content":"\nPetrodorado Declares Discovery in Loto-1X\n\nPetrodorado Declares Discovery in Loto-1X \nNOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES\nCalgary, Alberta CANADA, April 29, 2013 /FSC/ - Petrodorado Energy Ltd. (PDQ - TSX Venture), (\"Petrodorado\" or the \"Company\") along with the operator have informed the authorities of Loto-1X being a discovery well.\nLoto-1X\nThis second exploration well on the CPO-5 Block commenced on January 22, 2013, and was drilled to a total measured depth of 10,500 feet. The Loto-1X well targeted the Mirador, Guadalupe and Une sands.\nA multi-zone testing program conducted on the Une, Guadalupe, and Lower and Upper Mirador zones yielded the following results:\nUne testing: extra heavy oil in non-commercial quantities was found and further testing was abandoned.\nLower and Upper Mirador testing: a co-mingled test of three intervals was performed with an ESP. An oil rate of 1,500 barrels per day with an 80% water cut was achieved. The gravity of the oil was 17API. The well displayed an excellent productivity index and potential, and the rate was limited to the capacity of the ESP of 10,000 barrels of fluid per day, and not due to the capacity of the well.\nMultiple attempts were made to test each zone independently, but due to equipment availability and surface storage limitation a proper test was not conducted. \nThe drilling rig has been released and the well will be tested further with a work-over rig using an ESP and sufficient surface storage capacity to isolate the water producing zone.\nIn addition, the uppermost zone of the Upper Mirador was not tested and will be tested with the work-over rig. The sourcing of the work-over rig and other equipment has started and we expect to re-commence testing Loto-1X in July 2013.\nThe CPO-5 Block is presently under phase one of a two-phase exploration program representing a total of 5 committed exploration wells. Petrodorado has a 30% non-operated working interest in the CPO-5 Block.\nKrishna Vathyam, Chairman, President and CEO of Petrodorado Energy Ltd.\n\"The initial production rate from the co-mingled zone identifies the excellent potential of this well. Once the water zone has been isolated and the uppermost zone of the Upper Mirador has been tested, the commerciality of this discovery will be determined.\"\nAbout ...