Amerisur Resources provided the following update on operations in the Fenix Block, Colombia.
The 8.1/2" Pilot Hole of Isabel-1 was drilled to a final depth of 1,365ft. The hole has been logged and plugged back to allow the deviated part of the well to be drilled directionally from higher in the pilot wellbore.
The results up to now have been encouraging and in line with the Company's expectations. The top sand of the Esmeraldas-La Paz formation was encountered at 1,002 ft Wire Line Depth, confirming the pre-drill prognosis. An apparent net thickness of approximately 280 ft of good quality sandstones was encountered with strong shows of gas, oil, oil on cuttings samples and also free oil visible on the shale shaker throughout this section. The mud weight used through this section was 9.2 ppg.
The well is currently being directionally drilled to position the well bore in the most advantageous position to evaluate the sands.
Final target depth is estimated at 1,850ft measured depth with an inclination of up to approximately 56 degrees from the vertical.
John Wardle, CEO, said, "I am pleased with the good progress and encouraging indications at Isabel, and look forward to updating shareholders as the work proceeds."
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