The target is a 3 – 10 billion cubic feet (bcf) reservoir. Drilling will take 15 days. The estimated cost is $1.8 million
John Teeling, Chairman of Pan Andean Resources, said, "High U.S. gas prices make exploration attractive. In the coming weeks and months we are drilling a number of wells to exploit our U.S. properties. The High Island 68 well is low risk. We know the geology and we have the infrastructure in place. The target is 3 bcf of gas, but it could be greater."
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