Petrodorado Issues an Operations Update on its Buganviles Block

About this update from Rok Resources, Inc. Class B

[{"type":"text","content":"\nPetrodorado Issues an Operations Update on its Buganviles Block\n\n\n Feb. 2, 2011 (Filing Services Canada) -- Petrodorado Energy Ltd. (PDQ - TSX Venture),(\"Petrodorado\" or the \"Company\") provides an operational update on its Buganviles block.BUGANVILES BLOCKIn the Buganviles Block, the Company continued its exploratory activity by performing a production test on the Visure-1X exploratory well and by drilling the Tuqueque-1X exploratory well. In the Tuqueque prospect, located to the northern part of the Buganviles Block, the Tuqueque-1X exploratory well spudded on November 4, 2010, with the Cretaceous limestones of the Caballos Formation as the main exploratory target. After the tie-in between a vertical seismic profile in the well and the available 2D seismic data, the estimated final depth of the objective was revised from 7,600 feet to 11,300 feet measured depth (\"MD\").  Accordingly, the new target depth for the Caballos formation in the well was estimated at a depth of approximately 10,600 feet. The well is currently drilling 81/2\" hole at a depth of 9303 feet MD in the Villeta Group (Tetuan Formation). The preliminary petrophysical evaluation in the upper part of the well, showed two additional prospective intervals in the Monserrate Formation with 31 feet of indicated net pay; and the El Cobre Formation with 9 feet of indicated net pay.  The results of the Visure-1X well, drilled in the Visure prospect, located in the southern part of the Block, were released on November 4, 2010. The well was tested in the Lower Guadalupe Formation at a stabilized average production rate of 46 barrels of oil per day (\"bopd\") with 14 barrels of water per day (\"bwpd\"). Oil gravity was 15.6o API. The Visure-1X well has now been suspended and the drilling rig released pending evaluation of the production testing. Depending on the results of this analysis, the Company will consider a possible test in the Upper Guadalupe and Barzalosa Formations. Different production techniques will be evaluated, based on the production test analysis, in order to economically produce the oil encountered in the Lower Guadalupe Formation.The Buganviles Block is an Association Contract with Ecopetrol, located in the Upper Magdalena Basin.  Petrodorado has a 59.5% and 55% beneficial interest in the Visure and Tuquque prospe...

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