Southern Trinidad and Tobago finds indicated

By OGJ editors
HOUSTON, Aug. 26 -- Parex Resources Inc., Calgary, leads a group that has drilled a second indicated discovery on the Moruga block in southern Trinidad and Tobago.

Snowcap-1 has been cased to total measured depth of 8,600 ft. Based on open hole wireline, mud logs, and cutting samples, the well encountered potential hydrocarbon-bearing sandstones with oil and gas shows over a 300-ft gross interval.

The potential hydrocarbon-bearing sandstones occurred in several secondary Eocene zones at gross measured depths of 7,940-8,035 ft, 8,090-8,135 ft, and 8,340-8,445 ft, respectively. In the primary objective Miocene Herrera zone, the well encountered several potential hydrocarbon-bearing sandstones at measured depths of 4,580-4,610 ft, 4,650-60 ft, and 4,680-4,700 ft, respectively.

Multizone test equipment is at the site of the first well, Firecrown-1, awaiting regulatory approvals prior to commencement of the testing exercise. Firecrown-1 encountered hydrocarbon-bearing sandstones with oil shows in the secondary Herrera zone at 6,600 ft to 7,220 ft measured depth and in the primary Herrera zone at 8,150-8,275 ft.

An estimate of net pay is expected to be published once all testing is completed in a satisfactory manner.