PERL Makes Headway in Trinidad

Primera Energy Resources (PERL) provided the following corporate update on its Optimal block WD-4 in south central Trinidad.

As announced earlier, PERL plans to drill up to four sidetrack redrill wells on the block during this phase of the current drilling campaign. PS266RD, the first of these wells, was drilled to a total depth of 5,450' and encountered 270' of net pay in the Upper and Lower Forest Formations. Production casing was set at 5,440' and a service rig is being mobilized to complete the well, initially in 129' of Lower Forest sands. Production results will be provided as soon as they become available.

PS 111RD, the second well on the program, was spudded on September 29, 2011 and is currently drilling ahead at 6,600'. The well will be targeting the under-exploited Cruse formation and will be drilled to a total depth of 6,900'.

Work is continuing on location preparation for the third and fourth wells in the program, PS 111RD which shall target the under-exploited cruse formation, and an infill/replacement well to PS 125.