Mexican state oil company Pemex is understood to have reached target depth on a closely watched wildcat near the US border amid early optimism that it may have hit oil.
If a discovery is confirmed, it could pave the way for the first application of a trans-boundary hydrocarbons agreement between Mexico and the US.
Pemex, which began drilling at Tiaras-1 in November, has taken cores, well-placed sources told Upstream.
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