This was the first well drilled with the Corporation's recently imported to Brazil triple drilling rig named BCH-02, which is owned and operated by the Corporation's wholly-owned oilfield services subsidiary, BCH Ltd. ("BCH"). Testing of the well will commence at the Azavado level and upon determination of results within 3-4 weeks; the well will be placed on production. Testing and completion will be performed by BCH's service rig SR-101.
BCH-02 will now move to spud its second development drilling location in an adjacent field, FRB-1 (Fazenda Rio Branco-1).
Going forward BrazAlta expects to provide periodic updates on its drilling program and will provide relevant production data after completion of production tests on each new well.
W.Washington is BrazAlta's partner with respect to BrazAlta's Brazilian operations in the Reconcavo, Sergipe and Tucano basins of Brazil.
BrazAlta is a publicly traded Canadian based international oil and gas corporation with operations in Brazil, Northern Ireland and Canada.
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