Antrim reports Tierra del Fuego discovery

Peter Howard Wertheim
OGJ Correspondent

RIO DE JANEIRO, June 6 -- Antrim Energy Inc., Calgary, reported an oil discovery in the Las Violetas (LV)-105 exploratory well drilled in the Magallanes basin on Tierra del Fuego, Argentina.

The LV-105 well, drilled to a target depth of 1,856 m in the Cretaceous Springhill formation, flowed at initial rates of 750 b/d of 43° gravity crude with negligible water from a perforated interval of more than 16.5 m (12.5 m net).

Antrim said the well is currently producing at a rate of 450 b/d at 110 psi on a 14 mm choke.

Delineation is planned. The Petroservico rig is under contract until Aug. 31.

LV-105 is the tenth of 11 wells drilled in Antrim's Tierra del Fuego program. To date, five wells have been completed and tested as liquid-rich gas wells; three wells have been cased and are awaiting stimulation; one well (LV-105) has been completed as an oil well and is on production; one well has just been logged and cased and is awaiting testing; and one well has been abandoned (OGJ Online, Dec. 30, 2005).

Antrim has a 25.78% interest in the Las Violetas Block as well as the Angostura and Rio Cullen Blocks in Tierra del Fuego. Other Las Violetas interests are APCO Argentina 25.78%; Roch, operator, 24.29%; San Enrique 12.62%; and DPG 11.54%.

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