Petro Andina Tests 3 Exploratory Wells at 760b/d

Three exploratory wells drilled in the Gobernador Ayala III block in Argentina's Neuquen basin have tested at a combined rate of 760b/d, Calgary-based Petro Andina Resources CFO Bill Hogg told BNamericas.

The El Renegado x1 well encountered 12m of pay in the Lower Centenario sands at a depth of 620-632m and swabbed at a stabilized rate of 400b/d of 19 degree API crude, according to a Petro Andina statement.

The company expects the well will be capable of initial production at 375b/d, according to the statement.

The El Renegado x2 well encountered 8m of pay in the Lower Centenario sands at a depth of 618-628m. The well is undergoing completion testing at rates equivalent to 360b/d.

The Governador Ayala Oeste x1 well, drilled 4km to the southeast of the El Renegado x1 discovery, encountered the Lower Centenario reservoir, but the sands were wet and the well abandoned.

No production schedule been set for the new discoveries, but the oil will eventually be trucked to the company's recently completed processing facility on its El Corcobo Norte block, Hobb said.

"We complete wells initially to single well batteries and then when they are brought on, the crude is trucked from those batteries," Hogg said.

"Currently, we have four rigs drilling so it's a matter of our schedule when we complete those wells. It could be a few weeks or a couple of months," he said.

Petro Andina has one dedicated rig for exploration wells and 14 exploratory wells are due to be drilled before the end of the year, Hogg said.

The company also continues to look at potential prospects.

"We have always kept an eye on what's happening elsewhere in Latin America. Were not currently bidding on anything outside of the Neuquen basin, but we continue to look," Hogg said.

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