Paraguay spud: President spuds well
President farms into Paraguay block
10 January 2014 08:39 GMT
President ups Paraguay stake
10 June 2014 07:38 GMT
President to drill in May
10 January 2014 12:00 GMT
16 June 2014 06:58 GMT
The Jacaranda-1 well has been designed to test the potential double play system in the north-west flank of the Pirity concession.
The Cretaceous and Palaeozoic reservoirs will be targeted in this well.
It will drill a number of independent reservoir targets targeting a total gross mean prospective resource of 624 million barrels of oil equivalent.
President said it expected the well to be drilled to a depth of 4200 metres, which is expected to take about 70 days.
The company recently upped its stake in the concession adding at extra 5% to its 59% interest.
The South America-focused explorer took over LCH, a local company that held a 5% interest in the concession.
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