Guatemala

The PetroLatina subsidiary of Quetzal Energy Ltd., Toronto, is redeveloping the A7-2005 license that contains Atzam and Tortugas fields in Guatemala’s southern Peten (Chapayal) basin.

Jun 26th, 2009

By OGJ editors
HOUSTON, June 26
– The PetroLatina subsidiary of Quetzal Energy Ltd., Toronto, is redeveloping the A7-2005 license that contains Atzam and Tortugas fields in Guatemala’s southern Peten (Chapayal) basin.

It plans to drill three development wells at Atzam and six in Tortugas.

PetroLatina has spud the Atzam-3 well in Guatemala’s Atzam oil and gas field in License A7-2005 in the southern Peten (Chapayal) basin.

Projected depth is 4,200 ft at the well, 500 m east of the productive Atzam-2 well. Quetzal chose the location to gain a structural advantage to Atzam-2 at the productive Coban C-18 and C-19 intervals.

Basic Petroleum (Bahamas) Ltd. drilled Atzam-2 in 1993. The reworked Atzam-2 has produced 102,168 bbl of 34° gravity oil from March 2008 until May 31, 2009. Previous operators produced 90,000 bbl before the well watered out.

PetroLatina also completed Atzam-1A as a water disposal well for a savings of $18,000/month.

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