Acacia Este is a low-risk prospect on trend with the Arce Field that is currently under long-term production test. Other fields on trend include the prolific Chicala and Velasquez fields. The Directors expect the well to take 20-30 days to drill, test and complete.
The Directors of Black Rock believe that Acacia Este is one of the best exploration prospects in the Las Quinchas Association Contract. If the Acacia Este well is a discovery, Black Rock will propose to Kappa the implementation of a fast-track appraisal program to define the boundaries of the prospect and prove up the reserves ahead of a full commercial development.
As announced earlier this year, Black Rock has now fulfilled all its obligations under the farm-in agreement with the field operator, Kappa, for the Las Quinchas Association Contract in Colombia and is now working with Kappa to submit an application for the assignment of its 50% interest for consideration by Ecopetrol, the National Oil Company of Colombia.
Dr John Cubitt, Managing Director of Black Rock Oil & Gas plc, commented:
"The spudding of Acacia Este has been eagerly awaited as it represents a potentially high impact exploration prospect. It forms part of an extensive portfolio of exploration and appraisal prospects in Colombia that Black Rock is currently evaluating with our joint venture partner, Kappa."
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