Manolo Zuniga, President and Chief Executive Officer, commented, "The oil test in this well confirms the presence of oil down dip from the CX11-21XD which, as previously announced, tested 5,900 bopd and 60 million cubic feet of gas per day. The absence of water during this successful test indicates that the oil pool in the Corvina field most likely extends down dip of the CX11-14D." Mr. Zuniga added, "We are continuing to test additional zones to prove up other prospective oil and gas sands and are quite pleased that this well proved to be outstanding on its first test."
The Company will release additional test results in approximately two weeks.
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