Colombia
Amerisur Resources PLC placed the No. 5 well in Platanillo field in Colombia's Putumayo basin on commercial production after testing it at 2,472 b/d of 31.8° gravity oil, natural, on choke with 61 psi wellhead pressure.
The well's controlled production rate of 1,500 b/d initially will boost company output to 3,500 b/d. The well encountered 99 ft gross pay, 79 ft net, in the U sands of the Villeta formation.
The firm expressed confidence of achieving a yearend production rate of 5,000 b/d.
Platanillo-5 is the third of a planned eight-well campaign. The next well, Platanillo-9, will be deviated to a bottomhole location 1,500 ft west of Platanillo-3.
New Zealand
A unit of New Zealand Energy Corp., Vancouver, BC, will enter a joint venture with Westech Energy New Zealand, a unit of Energy Corp. of America, under which NZEC can acquire 80% ownership and become operator of a permit in New Zealand's East Coast basin.
NZEC will assume responsibility for 267,862-acre PEP 38346 and the related work program and will pay Westech $725,000. On completion of the work program, Westech will refund $225,000 to NZEC and all future expenditures for the permit will be funded 80% by NZEC and 20% by Westech.
The proposed work program requires NZEC to complete various technical studies, reinterpret existing seismic data, shoot and interpret more 2D seismic, and drill two exploratory wells by March 2016. NZEC has the option to withdraw from the joint venture after drilling the first well, in which case it would transfer ownership and operatorship back to Westech.
Assuming that New Zealand authorities approve the transfer and joint venture, NZEC will hold more than 2 million net acres including pending permits in the East Coast basin.
Peru
ConocoPhillips will withdraw from exploring blocks 123 and 129 in Peru's Maranon basin and transfer its 45% interest to Gran Tierra Energy Peru SRL, subject to government approval.
ConocoPhillips said the decision to exit the environmentally sensitive area is part of its strategic plan to optimize its portfolio of assets.
The company said it had built strong relationships with 60 communities near the two blocks and had just completed two rounds of seismic exploration on the blocks.
Romania
Sterling Resources Ltd., Calgary, said its Midia Resources Ltd. subsidiary has spudded the Ioana-1 wildcat on the Ioana gas prospect on Block 15 Midia in the Black Sea offshore Romania.
The well to be drilled to 1,600 m in 91 m of water by the Grup Servicii Petroliere SA GSP Jupiter cantilever jack up. It targets the Mid-Pontian sandstone.
After drilling Ioana-1, the rig will move 70 km north to drill Eugenia-1 in oil-prone Block 13 Pelican to 2,300 m in 55 m of water. It will be the first well on the block.
Objectives at Eugenia-1 are the shallower Oligocene, a new play in the area, and the Eocene and Upper Cretaceous.
OMV Petrom's nearby Lebada field complex is believed to be producing from reservoirs in both the Eocene and Upper Cretaceous intervals.
Midia Resources operates both blocks. Approved joint venture partners are Petro Ventures Europe BV 20% and Gas Plus International BV 15%.
