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NCT Energy group tests Llanos Une oil discovery

NCT Energy Group CA Colombia, operator of Llanos Block 27, has drilled an oil discovery at the Flami-1 exploratory well in the Llanos basin in Colombia.

Logs indicate an estimated 20 ft of potential gross oil pay in the MIrador formation and 22 ft in the Une formation, said Santa Maria Petroleum Inc., Toronto, formerly Quetzal Energy Ltd. Total depth is 9,300 ft.

Une perforations at 9,086-9,100 ft tested at 1,514 b/d of 15.5° gravity oil with an average 15% water cut. The well recovered 3,786 bbl of oil in 60 hr and 5,496 bbl in 73 hr. Preparations are under way to test the Mirador.

Santa Maria is paying 50% of well costs to earn 45.275% of production before payout and 34.25% of production after payout under a private participating interest agreement. Brownstone Energy Inc., Toronto, is paying 50% of well costs to earn 45.275% of production before payout and 34.25% of production after payout.


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