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PetroMagdalena has Llanos light oil discovery

PetroMagdalena Energy Inc., Toronto, has gauged a light oil discovery on Cubiro Block B in the Llanos basin in Colombia.

The Petirojo-1 discovery well gauged 40° gravity oil at the rate of 1,545 b/d on a 13 hr initial production test from a Carbonera C7 reservoir at 5,636 ft measured depth. Logs indicate 32 ft of net oil pay with 29% average porosity. Total depth is 6,399 ft measured depth. PetroMagdalena has 70% working interest in the well.

After perforation 17 ft in three intervals and installation of an electric submersible pump, the well produced 370 bbl of 40.8° gravity oil over the latest 4 hr period at an average rate of 1,545 b/d and a downhole flowing pressure of 1,850 psi, a 21% drawdown, with 21.7% average BS&W. Testing continued.

Based on seismic interpretation, the discovered accumulation is a 2 km long structure with 190 acres of closure, “corresponding to the typical exploration play in the Llanos basin,” the company said. It is on trend south of Palmarito field, which shows cumulative production of more than 12 million bbl.

PetroMagdalena and its partner have agreed to drill two more wells as part of the 2011 program, an exploratory well to test a separate structure between Petirojo-1 and Palmarito field and one appraisal/development well offsetting the Petirojo-1 discovery well.

Meanwhile, in Cubiro Block C, PetroMagdalena is drilling the Copa-B exploratory well at 2,870 ft MD with a target total depth of 6,992 ft MD. Copa-B will test a seismically defined structure 4.4 km south and on trend with Copa field, discovered in 2010 where two wells in the Carbonera C7 sand averaged an initial production rate of 1,400 b/d.

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