Houston American Energy Begins Produciton from Jaguar Well
Houston American Energy has commenced production from its Jaguar #1 well in Colombia. The well was brought on production April 12th at an initial rate of 765 barrels of oil per day from the C-1 formation. Over the next week, HUSA expects to raise the production to the maximum rate. The price of West Texas Intermediate Oil reported on Bloomberg is $28.53 per barrel.
Once a steady rate has been established over several months, this C-1 interval will be commingled with the C-3 interval that was also an oil completion in the well. It is anticipated that the well will be produced simultaneously from both intervals at this time. Houston American holds a 1.5% interest in this well and concession through an LLC.
"These results solidify our confidence in the Colombia project," stated John F. Terwilliger, President of Houston American Energy Corp. "We are pleased that HUSA continues to add to their bottom line with this prospect."
- Houston American Energy Updates Ops at Cachirre Well (Jun 28)
- Testing Underway at Houston American Energy's Colombia Sidetrack (Mar 23)
- Houston America Addresses Rumor, Provides Status Update (Mar 16)