Vinccler Could Publish LV-12 Well Results End-January

Vinccler Oil and Gas, a subsidiary of Canada's PetroFalcon (TSX: PFC), aims to publish results from the LV-12 well in Venezuela at the end of January, a Vinccler official told BNamericas.

Results would include reserve calculations as well as production timetables and estimates. The well, originally called LV-11, is "currently being drilled," the official said, elaborating on a Vinccler statement on the project.

Vinccler partners with Venezuela's state oil firm PDVSA on LV-12, which is part of their PetroCumarebo JV.

The partners discovered "the presence of oil and gas reservoirs" when drilling the LV-11 development well, according to the Vinccler statement.

The development "encountered larger-than-expected oil and gas reservoirs," Vinccler said.

The new well, part of PetroCumarebo's La Vela field in western Venezuela's Falcón state, is one of eight wells the company aims to complete in 2007.

PetroCumarebo produces roughly 1,200b/d of light crude and some 12Mf3/d (340,000m3/d) of natural gas. Vinccler holds 40% of the JV and PDVSA 60%.

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