Radial: Block 100 Drilling to Resume in Mid-January

Oil company Ziegler Peru expects to resume drilling the Ucayali basin's block 100 in Peru in mid-January, US oil company Radial Energy--a 20% stakeholder in the block--said in a statement.

Ziegler holds a 10% participation in the block, while local consulting group CCP holds 70%.

Once drilling begins, the Huaya 100-1X well will require roughly one week to reach total depth, the statement said.

Ziegler experienced drilling problems in early-December that led to a suspension of activities.


Reactivation of the first shut-in oil well on the Bosques block, in which Radial also holds a minority stake, is expected first quarter next year depending on rig availability.

"We are quite excited about the reactivation of the first well in Colombia, which offers a low-risk opportunity to produce oil and generate revenue," Radial president G Leigh Lyons said in the statement.

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