At La Creciente-2, the top of the reservoir in the Cienaga de Oro Formation was encountered at 11,033 feet. The reservoir has a gross thickness of 810 feet, with the upper 300 feet consisting mostly of fine sandstones and siltstones with occasional shales, while the lower 510 feet consisted of fine to coarse quartz sandstones, interbeded with siltstones, claystones, and shales. The whole section showed significant counts of methane as high as 700 parts per million despite relatively high mud weights used during the drilling operation to control reservoir pressures. The company is now preparing the well to run a full set of open hole electrical, sonic and radioactive logs as well as a check shot survey to calibrate recently acquired seismic data.
The company spudded the La Creciente-3 well on July 27 and expects to reach final depth of 12,800 feet within 50 days. This well is being drilled from the same location of La Creciente-1, but will be deviated toward the southwest to reach the deepest zone of the Cienaga de Oro Formation at Prospect A. Upon completion of La Creciente-2, the rig will be moved to drill the exploratory well at prospect "D", 5.5 kilometers north of La Creciente-1.
The construction of the pipeline to connect La Creciente-1 to the existing Guepaje-Corozal gas pipe will be completed by September 2007, with commercial gas production and sales expected to commence in October 2007.
Pacific Stratus holds a 100% interest in the La Creciente Block. Upon completion of La Creciente-2, the company will apply for commerciality of the field.
Pacific Stratus Energy is a Canadian-based oil and gas company that initiated operations in 2004. The company is focused on identifying attractive opportunities primarily within the upstream Sub Andean basins. Pacific Stratus has a current net production of 2,200 barrels of oil per day, with working interests in the Caguan, Dindal, Rio Seco, Puli B, La Creciente, Moriche and Guama blocks in Colombia and blocks 135, 137 and 138 in Peru.
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