Oromin Explorations, through the Argentina subsidiary, Exploraciones Oromin S.A. ("Oromin"), reports that on July 26, 2009, exploration well OLE.MD.SRE X-2001 reached a total depth of 1,270 meters in basement.
Initial electric logging and subsequent MRIL (magnetic resonance imaging) evaluation completed late July 27, 2009 confirms that the well has not encountered hydrocarbons. The results suggest that the target reservoir zones are not present at this crestal well location.
The interest holders of the Santa Rosa license (indirectly Oromin as to 67.52% and Australian Otto Energy Limited as to 32.48%) will now study the well data and incorporate this in a regional data base to determine whether potential stratigraphic traps on the western flank of the Santa Rosa dome warrant further investigation.
The well will be plugged and abandoned as a dry hole.
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