Gas2Grid reported that oil-bearing sandstones were successfully perforated at the Malolos-1 well in Service Contract 44 onshore Cebu, Philippines. The operator will flow test the sandstones during the next couple of days to determine its commercial vitality.
The operator has already performed testing and work over operations in the lower oil-bearing sandstone. The gathered samples are currently being analyzed.
"The test results to date have been very encouraging with both oil and associated gas having been produced to surface from the 29-foot thick sandstone," said Dennis Morton, Gas2Grid's managing director.
Testing has revealed that lower oil sandstones are capable of oil production, he added. Once the analysis is concluded, the consortium will determine the field's development plan.
Malolos-1, drilled in 1960, is located onshore central Cebu and situated about 31 miles west of Cebu City. The discovery well was drilled to a total depth of 9,016 feet, targeting Tertiary-age sandstone reservoirs.
Gas2Grid wholly owns and operates the service contract which spans 185,329 acres. The service contract calls for the operator to drill three additional exploration wells before the contract term ends.
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