West Canyon Energy has finished a 3D seismic shoot on its Carbonera Block Project in the Catatumbo Basin in Colombia. The 60 km seismic program is currently being reprocessed and will be evaluated to determine future drilling locations in an already successful basin. In addition, the Company expects to begin drilling the next well in Carbonera during the second quarter of this year. Further development plans include the workover of 3 wells and continued seismic work.
West Canyon President Shane Reeves stated, "We are pleased to have the Carbonera Block Project moving forward and we are expecting to see positive results from these efforts in the near future."
Through its wholly-owned subsidiary, PetroSouth Energy Corp., West Canyon holds a 6% working interest in the Carbonera Exploration and Exploitation Contract as well as participation in three future exploration wells. The Carbonera Block is located in the Catatumbo Basin, which has had substantial oil production to date with further potential substantial additional production. Covering roughly 64,000 acres, the block represents substantial potential recoverable reserves of natural gas.
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