Petro Vista Energy has reached TD at its Noellia #1 (the first of several planned wells) recently drilled in the Lower Magdalena Valley Basin Colombia, La Maye Block. The well encountered several oil and gas shows and has been cased for future testing. The Company holds a 25% participating interest in the block.
The well was drilled over 31 days to a total depth of 3,341 feet into basement. The top of the prospective Cienega de Oro Cicuco Limestone was encountered at 3,290 feet measured depth, 82 feet high to our prognosis.
Read Taylor, President of Petro Vista, stated, "Although it's still early in the evaluation process we are seeing that the hydrocarbon system is working for both gas and oil and potentially multiple reservoirs and play types may exist in the La Maye block along this proven arch."
The partners are in the process of finalizing plans for testing this well following the drilling of a second exploration well using a completion rig. This will be completed by mid February 2010, for weather reasons. Rig limitations and availability require that testing of this well awaits the drilling of the second well on the block. Completions of both wells would then occur back to back with a mobilized completion rig, better equipped and at lower cost.
Prior to drilling the second exploration well, the partners will incorporate new data from the drilling of the first well in order to identify all prospective play types in the block and those areas where prospective Tertiary clastic and limestone's reservoirs of the Cienega de Oro with the highest chance of success can be found. The La Maye Block lies along the southeastern flank of the Plato sub-basin of the Lower Magdalena Valley Basin and along the eastern edge of the Cicucco Arch which extends from the Cicucco Field 25 kms to the west of the block.
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