PetroLatina announced an update on its Colon-3 development well on the La Paloma field and its Querubin-1 exploratory well on the Los Angeles field.
Colon-3 development well
The Colon-3 development well was sidetracked and drilled to a final total measured depth of 10,000 ft (9,608 ft true vertical depth) at a location 400m south of the producing Colon-1 discovery well. The Colon-3 well was then logged, and petrophysical evaluation indicates that the well found 3 oil bearing sands in zones equivalent to oil pay zones seen in the previous Colon wells. These total approximately 31 ft of gross sand thickness with a calculated 27 ft of net oil pay. These pay zones lie between a measured depth of 8,910 ft and 9,466 ft.
In addition, the Colon-3 sidetrack ("Colon-3 ST") well was drilled deeper than the previous Colon wells in order to determine whether a channel sand, interpreted from 3D seismic data, existed. The sample and hydrocarbon show data collected while drilling, as well as the wireline logs, indicate that such a sand channel does indeed exist between 9,763 ft and 9,846 ft measured depth. That channel contains 83 ft of gross sand and approximately 75 ft of net sand based on log data. Good oil shows encountered while drilling this zone suggest that it is oil bearing and petrophysical analysis also suggests that the hydrocarbon saturations are considerable. This is a new sand zone not previously encountered in this area and, since no wells have been drilled to this stratigraphic level, the formation fluid parameters are not well known. Accordingly, it will be necessary to complete the zone by casing and cementing it and then conduct drill stem testing to confirm whether the fluid content of the zone is oil or water and whether it is producible.
A further update following testing of the Colon-3 ST well will be made in due course.
Querubin-1 exploratory well
The Querubin-1 well is located in the northern, updip portion of the oil producing Los Angeles field. As previously reported, it is situated near the Los Angeles-2 well which was abandoned due to sand plugging problems in the mid 1980's after producing more than 22,000 barrels of oil. Querubin-1 was drilled to a final total depth of 7,000 ft on 11 June 2010. The well was then logged and cased and is currently awaiting the arrival of a work over rig in order to complete it for production. The log analysis indicates that this well contains approximately 164 ft of net oil pay. That is considerably thicker than other previously drilled nearby Los Angeles field wells. The Querubin-1 well will be equipped with a Progressive Cavity Pump (PCP) in order to avoid the sand plugging problems which lead to the premature abandonment of the nearby Los Angeles-2 well.
Juan Carlos Rodriguez, Chief Executive of PetroLatina, said, "PetroLatina is delighted that the Colon-3 sidetrack well has intersected the same sands as encountered on previous Colon wells and currently expects production in due course to be inline with those wells.
"In addition, the confirmation of the deeper sand channel may, subject to the results of the drill stem testing, ultimately prove to be an even more significant and promising development.
"We also look forward to Querubin-1 being hooked up to production in due course following the planned installation of the PCP."
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