Oromin reported that the mobilization of the rig for drilling well OLE.MD.SREX2001 on the Santa Rosa Dome Petroleum Prospect is now under way. After spudding, it will take approximately 7 to 10 days to reach the target depth of approximately 1,300 meters to test the Conglomerate Violaceo, Barrancas, Potrerillos and Las Cabras formations. An announcement will be made when spudding commences.
The Santa Rosa Prospect is a 200 to 300 square kilometer shallow dome structure located within an approximate 7,600 square kilometer concession in the Cuyana Basin, Mendoza Province, Argentina.
The interest holders of the Santa Rosa license are now indirectly Oromin as to 67.52% and Otto Energy Limited of Perth, Australia as to 32.48%. Oromin is the project operator.
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