Pacific Rubiales made additional discovery at its Quifa-14 well, drilled as an appraisal well in the Quifa Block, located in the Llanos Basin of Colombia.
The Quifa-14 well was drilled as the third appraisal well for the discovery well Quifa-5 on Prospect "E". The well found the top of the Carbonera basal sands at 2991 feet true vertical depth (TVD), or 2,245 feet true vertical depth at sub-sea level (TVDSS) and the oil-water contact (OWC) at 3,060 feet TVD, or 2,315 feet TVDSS, resulting in an oil column of 69 feet at the well. The petrophysical evaluation of the well logs indicates a net pay zone of 33 feet, with 32% average porosity. The Quifa-14 well was drilled as a deviated well from the Quifa-5 surface location, slanted 60 degrees and 1.2 km to the southwest. The results of this well, along with the results of the Quifa-8, Quifa-12 and Quifa-17 appraisal wells confirm the acreage originally interpreted for Prospect "E" (refer to the results reported for the Quifa-5, Quifa-8, Quifa-12 and Quifa-17 wells in the company's press releases dated November 26, 2008, August 26, 2009, November 9, 2009 and December 9, 2009, respectively). The company is now planning to complete the well as a highly deviated-hole producer.
Ronald Pantin, Chief Executive Officer, commented, "The results of the appraisal well at Quifa continue to show the extension of the reservoir into new areas and further supports our development plan for the block."
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