Production ramp-up on track for President

Ramping up: President Petroleum chairman Peter Levine

PRESIDENT PETROLEUM

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Danica Newnham

 03 August 2012 10:36 GMT

UK-listed President Petroleum has started a high impact appraisal and development programme at its Puesto Guardian concession in Argentina, aiming to lift the company's output four or five-fold.

With fracking and workover programmes planned, the company is targeting  a corporate output increase to about 1300 to 1500 barrels of oil per day by the end of the 2013 first quarter.

Preparation for the fracking campaign is already underway, including injectivity and pressure tests in eight shut-in wells on the Pozo Escondido field to provide data to optimise the frac designs.

“The start of the fracking campaign is a significant milestone and will provide additional data on the potential of the limestone reservoir across the concession, where President has preliminarily identified an…

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