Trefoil Encouraged by Chanares Herrados Well Test

The well, drilled in the Chanares Herrados license to a final depth of 3,612 mts (11,800 ft.), was initially tested at a maximum flow rate of 3,188 BOPD through a 50mm choke.

Later it was connected to the field's gathering system through a 24 mm choke achieving a stabilized initial production of 1,500 BOPD of 32ºAPI sweet oil with a 3% water cut and 280 PSI well head flowing pressure. The well, currently in natural flow, is expected to decline following the average exponential curve for wells in this area.

Trefoil's CEO, Jose Astolfi, commented, "The test result from CH-1012 is outstanding news for Trefoil. In the short term, it set a new record for our net daily peak production which exceeded 6,300 barrels on March 20th and, even though this production level cannot be sustained because the wells normally decline, in the long term, the fact that the step-out well CH-1012 was so productive, speaks of the potential, not only in the Puesto Pozo Cercado license but also in Chanares Herrados and Atamisqui."