The company is now preparing to record electrical logs in the well and then run and cement the 7-inch casing to protect the borehole before resuming drilling to the planned final depth at a measured depth of 12,950 feet or 11,060 feet true vertical depth below sea level.
Production facilities at the 100%-owned La Creciente block have been completed and the company has received the authorization from the Ministry of Energy to start production from the La Creciente 1 well. A public auction to sell 35 million cubic feet of gas per day will be held on October 9, 2007 in Bogota, Colombia. To date, 15 companies have registered to participate in this process.
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 1,900 barrels of oil per day, with working interests in the Caguan, Dindal, Rio Seco, Puli B, La Creciente, Moriche, Guama and Arauca blocks in Colombia and blocks 135, 137 and 138 in Peru.
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