Antrim Upbeat Over Los Flamencos Results
Antrim Energy Inc. reported that Los Flamencos (LFa) 1005, the 16th well drilled in its 2006 19-well drilling program in Tierra del Fuego, Argentina, has tested approximately 7.1 million cubic feet per day with associated liquids at a flowing well head pressure of 597 psi.
Further testing using larger capacity test equipment will be required to determine expected long term flow rates.
LFa-1005 was drilled in an area identified as a potential new pool in an undrilled fault block south of the recently discovered Los Patos oil field. The well was drilled to a target depth of 2,250 meters through the Springhill Formation. This test rate was achieved from a 7-meter (net) perforated interval.
Antrim and partners have started acquiring a new 260-square-kilometer 3D seismic program in the Tierra del Fuego area and additional 3D seismic programs are planned for 2007. This new seismic will allow Antrim to identify both infield development locations and undrilled fault block exploration locations for the previously announced 2-year drilling campaign scheduled to start the second quarter of 2007. Antrim's working interest in the Tierra del Fuego concession is 25.78%.
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