Business
Operational Update: Colombia
Operational Update: Colombia.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n \n\n\n\n Gold Oil plc\n Operational Update: Colombia\nGold Oil plc ('Gold' or 'the Company') is pleased to announce the\nfollowing operational updates for its Azar, Nancy Burdine Maxine and\nRosa Blanca Blocks in Colombia.\n\nGold is pleased to announce that at the most recent Azar operating\ncommittee meeting (OCM) on 28 October, the Operator, Gran Tierra\nEnergy Company (GTEC), announced the preliminary results of the 50km2\n3D survey acquired on the southern part of the block on which the La\nVega South & East prospects will be drilled Q2/Q3 2010 as soon as the\nrelevant environment impact assessment permits are granted. La Vega\nEast has resources estimated by GTEC of 3.25MMbbl in the T and U\nsands (Gold's share 0.6MMbbl). The similar La Vega South prospect is\nestimated to have resources of 3.24MMbbl in both sands (Gold's share\n0.6MMbbl). Both structures are very close together and are planned to\nbe drilled 'back to back' in 2010. GTEC has considerable experience\nin the Putumayo Basin, of which these prospects are very typical,\noperating several blocks.\n\nDuring the same OCM the partners decided to acquire an additional\n75km2 of 3D seismic over the La Florida structure, which is in the\nnorthern part of the block and has had 51km of 2D seismic recently\nacquired on it. The La Florida prospect has the potential, estimated\nby GTEC, for 15-25 MMbbl of oil initially in place (STOIIP). A better\nestimate will be made after the new 3D seismic survey, which will be\nacquired in March/April 2010.\n\nAs announced in the Company's Operational Update announced on 24\nSeptember, the acquisition of a 60 km 2D seismic survey in the\nsouthern portion of the Rosa Blanca Block, located in the prolific\nMiddle Magdalena Basin, started three weeks ago after the\nenvironmental permit was granted. Local consultation, detailed\ntopography mapping and drilling of the shot-holes for the dynamite\ncharges are well advanced. The first seismic line has been shot and\naccording to the schedule the seismic acquisition will be finished by\nmid November and processing and preliminary interpretation in the\nfirst week of December.\n\nTesting of the Burdine wells continues and B-1 has been in production\non a long term production test since October. B-1 is producing an\naverage of 230 bopd of light crude with 320 bpd of water. The\nobjective...