Michael Nugent, President stated, "Based on our analysis of electrical logs, we have identified over 900 feet of LaLuna formation and 300 feet of Maracas formation. Good to excellent porosity has been encountered and hydrocarbon indications were observed in the Drilling Formation Evaluation Mud Log throughout both Lower Cretaceous carbonate zones. The Company is now preparing to test both the Maracas and LaLuna formations commencing later this week."
The B2X well is the second well drilled into the seismically defined 3,000 acre Becerril Structure.
Mr. Nugent further commented "Our technical team is pleased with the logging and casing operations. Preliminary indications are very encouraging and we're looking forward, with great anticipation, to the commencement of testing operations."
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