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americas

Wednesday, 07 January, 2009, 19:10 GMT | more >>

Pacific Stratus on target in Colombia

By Upstream staff

Canada-based Pacific Stratus Energy said today it has hit hydrocarbons at its La Creciente D-1 well in Columbia’s Lower Magelena basin, and it has clinched a block deal in the country.

The well was drilled to a total depth of 11,450 feet and Pacific Stratus Energy said 28 feet of net reservoir sandstones were found.

It said the petrophysical evaluation indicated a water gas contact at a depth of 10,869 feet.

The company is now finishing wireline logging and preparing to run and cement the production liner in order to begin formation testing.

Pacific Stratus Energy also said it has secured the Tacacho Technical Evaluation Agreement.

The Tacacho block is in the foreland basin of the Putumayo mountain range, in the Eastern Cordillera area of Colombia.

The company said a final agreement will be signed in the next 30 days.

Work commitments comprise a minimum investment of $3 million to reprocess 640 kilometres of 2D seismic, 4400 kilometres of aeromagnetogravimetric survey and the acquisition of 100 kilometres of new 2D seismic.