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LIVE

Friday, 09 January, 2009, 01:10 GMT | more >>

Colombia wildcat roars for duo

By Upstream staff

Calgary-based Solana Resources and its partner Gran Tierra Energy have hit pay with the Juanambu-1 wildcat, drilled in the Guayuyaco Block, in Colombia's Putumayo basin.

Juanambu-1 reached a total measured depth of 2790 meters on 10 March 2007. The well hit reservoir quality sandstones with hydrocarbon shows in four zones.

Initial log interpretations indicate potential oil pay in the T sandstone unit of the Villeta formation and in the Caballos formation.

There is further potential oil pay in the KG sandstone unit of the Rumiyaco formation and in the U sandstone unit of the Villeta formation, subject to confirmation by planned well testing.

The four reservoirs hit are proven producing reservoirs in the adjacent Santana Block operated by Gran Tierra.

Juanambu-1 is currently being cased.

A service rig with test equipment will move to the Juanambu-1 location to run a completion string and start extensive testing of the hydrocarbon zones early next month.

Under a farm-in agreement Solana struck with block operator Gran Tierra , it will pay 67% of the Juanambu-1 well costs to earn a 50% working interest.

State-run Ecopetrol has a 30% interest back-in right on commercial discoveries. If Ecopetrol exercises this option, Solana's stake will be reduced to 35%, with Gran Tierra holding the remaining 35% interest.

The Pride-17 drilling rig will be mobilised to the adjoining Chaza Block to drill the Costayaco-1 exploration well once Juanambu-1 is cased. Solana and Gran Tierra expect drilling at Costayaco-1 to start early next week. Solana has a 50% working interest in the Chaza Block, with operator Gran Tierra holding the other 50%.