The company also reports that Total has made a major gas discovery on Incahuasi, a neighboring block to Monteagudo in which Pan Andean has a 30% interest. The discovery may contain up to 12 trillion cubic feet of gas. The find was made in the lower Devonian Huamampampa sands which are also present in the Monteagudo block.
Current oil and gas production in Monteagudo is from shallower horizons. Pan Andean, together with partners Repsol and Petrobras, will drill the Huamampampa when market conditions are appropriate. The positive results at Incahuasi encourages our optimism.
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