Petrolifera Posts Test Rates at Brillante Well

Petrolifera announced a significant upward revision of the previously calculated absolute open flow ("AOF") test rate for the Cienaga de Oro ("CDO") Formation in the Brillante SE-1X well, drilled on its 100% owned Sierra Nevada License in Colombia.

The newly calculated AOF is 18.0 MMcf/d, a rate 5.5 MMcf/d greater than the previous estimate. The increase from the previous estimate resulted from recovery of the bottom-hole pressure data recorded during the flow and shut-in periods of the production test, which was conducted during the period from April 17, 2010 through April 20, 2010, resulting in a more accurate AOF estimation. The previous estimate used assumptions based upon information available at the time of the press release to extrapolate surface pressures to bottom-hole conditions.

As previously announced, the measured rate of the drill stem test ("DST") conducted between 3,138 feet - 3,350 feet subsurface was 8.4 MMcf/d of dry natural gas, with no water, through a 48/64th inch choke with surface pressure at 579 pounds per square inch ("psi").

Current plans to suspend the well until a permit to conduct a long-term test is received remain unchanged.

Readers should be cautioned that measured flow rates and the calculated AOF rate may not be indicative of stabilized production rates for the Brillante SE-1X well. Further long term testing of the Brillante SE-1X well is required. Petrolifera has a right to appraise its oil and gas rights in Colombia but it does not have a right to produce same until such time as the reserves are determined to be commercial.

 

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