Argentina: Neuquen Coiron Amargo Sur block extended

Neuquen Province in Argentina has extended the exploration period for the Roch SA-operated Coiron Amargo Sur block by 1 year until Nov. 8, 2014, said 35% working interest owner Madalena Energy Inc., Calgary.

The northern part of Coiron Amargo, known as Coiron Amargo Norte, is under a 25-year exploitation concession that the province approved in 2012.

The extension provides the four-company group time to satisfy remaining work commitments, Madalena said. After satisfying these, the partners have the ability to extend Coiron Amargo Sur through further exploration, evaluation, and exploitation phases.

Madalena said the group has reentered the CAN.XR-2(H) well and is drilling horizontally in the Sierras Blancas light oil reservoir. This is the first horizontal well drilled into one of the six Sierras Blancas conventional light oil pools discovered on the block to date.

After this well, the group plans to drill an additional Vaca Muerta shale delineation well (CAS.x-15) in the southern part of the block.

Coiron Amargo interests are Roch and Gas y Petroleo Neuquen SA 10% each, Apco Oil & Gas International Inc. 45%, and Madalena 35%.

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