Aventura Energy Inc., Calgary, reported positive 2001 fiscal results largely affected by its onshore drilling program in Trinidad.
Carapal Ridge-1, tested in October 2001, contributed the majority of the company's yearend 2001 reserves. A second well, Corosan-1, was a commercial gas discovery much smaller than Carapal Ridge. Aventura gave no test data but said Corosan accounted for less than 3% of the company's Trinidad reserves.
Vintage Petroleum Inc., Tulsa, operates the Central Block in Trinidad, where Carapal Ridge-1 flowed more than 50 MMcfd of gas and 1,500 b/d of condensate from five separately-tested intervals totaling 1,000 ft in the Miocene Herrera (OGJ Online, Oct. 17, 2001).
Aventura in late February said it owns a 25% working interest in commercial developments on the Central Block pending the approval of state Petrotrin and the Trinidad and Tobago Ministry of Energy and Energy Industries.
Aventura listed yearend 2001 net proved and probable reserves in Trinidad of 80.9 bcf of gas and 2.97 million bbl of natural gas liquids. Proved reserves in Trinidad were 48.5 bcf and 1.77 million bbl. Outside engineers prepared the figures.
Aventura said it is bullish on the prospectivity of the Central Block and that "given the quality of the prospect inventory further drilling should result in a two to three times increase in the current Trinidad proved plus probable reserves base.
"This inventory includes five sizeable prospects within the current 3D seismic area, including two prospects on strike or below the Carapal Ridge-1 discovery (one of which tested light oil), and one prospect outside of the 3D area that tested oil."
No announcement has been made with regard to the start of gas sales.
