Citation drills ahead at Atzam-4

Guatemala: Citation Resources encountered oil and gas shows over a 15.24-metre section at its Atzam-4 well in the South Peten basin

AFP/SCANPIX

Danica Newnham

 27 September 2012 04:16 GMT

Citation Resources is currently drilling ahead at the Atzam-4 well in Guatemala, having already encountered strong oil and gas shows over a 15.24-metre section.

The Australia-listed company, formerly known as Clean Global Energy, said the well was drilling ahead at 862.6 metres following a bit change.

Drilling is expected to reach the primary C18 and C19 reservoir targets, at a depth of about 1219.2 metres, in about 10 to 15 days.

Citation stated that oil and gas shows were encountered over a 15.24-metre section in the C14 carbonates, from limestones and vuggy dolomites.

Numerous samples from the interval indicated up to 50% oil saturation, the company said.

In addition, current structural interpretation has indicated that the Atzam-4 well formation…

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