South America-focused junior oil firm President Energy reported Monday that seismic data acquired over its Hernandarias Block in the Chaco region of Paraguay "is of excellent quality".
President said that it is already clear from the data that several drillable Paleozoic prospects exist at between 8,200 feet and 9,845 feet – with these being at around a 3,200-foot shallower depth than the Lapacho and Jacaranda wells drilled last year.
The firm added that its management team is now carrying out a careful analysis and peer review before announcing the full results, together with prospective resource estimates. Before an announcement is made about these estimates, the firm first expects to brief the relevant Paraguayan regulatory authorities and ministries in October.
Have a news tip? Share it with Rigzone!
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you