Global perforated and tested the Traditional Ubaque and Upper Massive Ubaque formations of Estero # 5. The combined test resulted in a rate of 200 barrels of oil per day of 15.6 degree API gravity oil.
Estero # 5, in which Global owns a 100% working interest, brings to five the number of wells currently producing within the Palo Blanco field where Global has now established three producing reservoirs.
Commenting on the Estero # 5 well and Palo Blanco field, Stephen C. Voss, Global's Managing Director said, "From the success of the Estero # 5 well, we believe that substantial additional reserves exist in the Palo Blanco field and we have identified additional locations to be drilled. The combined activity on our Palo Blanco and Rio Verde acreage comprises the most active drilling and completion program in Global's history."
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