Chaco Reports Dry Hole in Colombia
Chaco Resources Plc said that drilling on the Cachapa well on the Primavera block in the Llanos Basin in Colombia has completed.
The well, which was operated by Gran Tierra Energy, was drilled to 3,551ft into basement. It did not encounter commercial quantities of hydrocarbons and has been plugged and abandoned. Chaco Resources had a 55% interest in the well. The Company has gained some valuable experience and information which will be used within its portfolio.
The drilling rig will shortly be moved to the Sayona-1 location within the Primavera Block.
Chaco and its partners, Gran Tierra Energy Colombia and Expet SA applied for the
Primavera contract in September 2005, approximately a year and a half before the
present management team assumed control of Chaco. The current exploration phase
terminates in May 2007.
- Bolivia: Four Companies Operating Under New Contracts (Jun 27)
- Chaco Announces Name Change, Share Placing (May 24)
- Chaco Acquires Stake in Middle Magdalena Block (Apr 25)
Company: Gran Tierra Energy more info
- Gran Tierra Receives 'Outperform' Rating After Revealing Exploration Plans (Jun 15)
- Gran Tierra Energy Reveals $38.6 Million Net Loss (Aug 05)
- Gran Tierra Touts Record Production in Colombia (Apr 17)
Company: Expet more info
- Chaco Reports Dry Hole in Colombia (Apr 05)
- Chaco Pulls Out of Puerto Lopez Oeste (Jan 18)
- Chaco Joint Venture Wins Primavera West Block (Mar 27)