Platino Energy Corp., Calgary, has spudded the Coati-1 well, its first exploratory well on the Coati block in the southern Putumayo basin in Colombia.
Drilling time is 45 days to projected total depth of 10,500 ft. Primary objective is the Caballos formation, and secondary targets are in the shallower Villeta sandstones.
Platino said Coati is the largest prospect in its portfolio and one of the most significant conventional exploratory targets to be drilled in Colombia this year.
Platino holds a 100% working interest in the Coati block reducing to 80% once its partner, Canacol Energy Ltd., Calgary, earns a 20% interest pursuant to an amended farm-out agreement.