Area Drilling

Aug. 25, 2008

Colombia

The Popa-2 exploration well in the Colombia’s Middle Magdalena basin is a gas-condensate discovery in the Upper Cretaceous Monserrate formation, said Gran Tierra Energy Inc., Calgary.

The well went to TD 8,646 ft in basement on the 144,670-acre Rio Magdalena block 1¼ miles from the 2006 Popa-1 noncommercial oil discovery that made 160 b/d, after which the company shot 89 line-km of 2D seismic.

A Monserrate DST at 7,770-90 ft yielded 1.4 MMcfd, and 85 b/d of 39.9° gravity condensate, and 370 b/d of water, natural, on a 1664-in. choke.

A Monserrate DST at 7,730-60 ft yielded 3.186 MMcfd, 77 b/d of 61.3° gravity condensate, and a trace of water, natural, on a 1-in. choke.

An Upper Monserrate DST at 7,624-30 ft, 7,640-46 ft, and 7,662-66 ft yielded 3.953 MMcfd, 74 b/d of 61.7° gravity condensate, and a trace of water, natural, on a 4864-in. choke.

Omega Energy Colombia will earn 60% of Gran Tierra Energy’s 100% working interest by paying all well costs, and Ecopetrol SA has a 30% back-in right, split proportionally, in event the discovery proves commercial. The block has numerous other leads and prospects.

Iceland

Iceland’s National Energy Authority and the Ministry of Industry organized an exploration conference Sept. 4-5 in Reykjavik in advance of the planned January 2009 tendering of licenses on the Jan Mayen ridge in the North Atlantic between Iceland the Jan Mayen Island (OGJ, Jan. 7, 2008, Newsletter).

Speakers will discuss geological aspects and taxation and other fiscal issues.

Seismic surveys and other geophysical measurements indicate that producible quantities of oil and gas could be found in the Dreki area as they have been in adjacent and geologically similar areas.

Kazakhstan

The AKK15 exploration well in western Kazakhstan flowed gas at a tubing restricted rate of 7.1 MMcfd from a 20-ft interval in the recently discovered Tasaran sandstone reservoir, said Tethys Petroleum Ltd., Guernsey, Channel Islands, UK.

A flow rate of 17 MMcfd is considered possible through larger tubing, the company said.

AKK15 is 5.4 miles east of and on a structure separate from AKK14, the area’s first Tasaran discovery.

AKK15 topped the Tasaran, which underlies the area’s thinner, primary Kyzyloi sand gas reservoir, at 1,791 ft. The well could go on line by yearend. Tasaran is of Lower Tertiary age.

Nicaragua

Infinity Energy Resources Inc., Denver, said the regional government council of the Autonomous Region of the North Atlantic ratified the company’s Nicaraguan offshore exploration and development contracts on Aug. 13.

The regional government council of the Autonomous Region of the Southern Atlantic ratified the contracts on July 4.

The contracts now await final review and signature by Nicaragua’s president.

The company holds the Perlas and Tyra concession blocks on 1.4 million acres in 100-300 ft of water in the Caribbean. Infinity said it has had contact from several potential partners.

Venezuela

The PetroCumarebo mixed company in the Falcon basin plans to drill the San Patricio exploration well later this year in a prospective area east of Cumarebo field, said PetroFalcon Corp., Caracas.

PetroCumarebo also plans to drill the La Cruz South prospect.

It is also reevaluating six wells—LV-12, 20, and 21, and CU-170, 171, and 173—in Cumarebo and La Vela fields for reperforation using high-penetration gun technology. Reperforating the first well, CU-170, yielded a production increase of 4.6 MMcfd of gas and 190 b/d of condensate.

The mixed company’s gross production is 1,100 b/d of oil and 18.5 MMcfd of gas.

Pennsylvania

Southwestern Energy Co., Houston, has drilled its first two vertical wells to Devonian Marcellus shale in Bradford and Susquehanna counties and plans completions in the quarter ending Sept. 30.

The company, which has 105,000 net undeveloped acres on which it believes the formation is prospective, plans to drill at least two more wells to Marcellus, one of which will be horizontal, the rest of the year.

Texas — East

Meridian Resource Corp., Houston, completed a development well in Double A Wells North field in Polk County at one of the best initial rates seen in the area.

The 1 Blackstone Minerals A-507, 5 miles southeast of Leggett, Tex., tested at rates as high as 20 MMcfd of gas and 6,200 b/d of condensate with 1,300 psi flowing tubing pressure on an open choke from Cretaceous Austin chalk. The well has 5,400-ft and 6,200-ft laterals, and true vertical depth is 13,000 ft.

Meridian is preparing to test the 1 Davis A-388, another dual lateral well 2 miles northwest of the BSM A-507. The rig from BSM A-507 has moved to the 1 Sutton A-574 location, a planned dual lateral well 2 miles north of BSM A-507.