Guyana

Canadian independents Groundstar Resources Ltd. and Canacol Energy Ltd. plan to appraise the Karanambo-1 discovery well in the Guyana part of the Takutu basin in mid-2010.

By OGJ editors
HOUSTON, Feb. 8
– Canadian independents Groundstar Resources Ltd. and Canacol Energy Ltd. plan to appraise the Karanambo-1 discovery well in the Guyana part of the Takutu basin in mid-2010.

The companies are reviewing bids for a drilling rig and support services. The companies have built a drill pad, access road, and staging areas and purchased and mobilized tubulars and wellheads for three wells 200 miles south of Georgetown near the border with Brazil.

Bottomhole location of the K-2 well will be 400 m northwest of Karanambo-1 and will target the same reservoirs that drillstem tested 411 b/d of 42° gravity oil at 8,946-9,290 ft in 1982 (OGJ, Apr. 26, 1982, p. 102). The former Home Oil Co. Ltd. believed the interval covered Jurassic carbonates and Triassic basalt.

Gaffney Cline and Associates attributed a gross mean risked recoverable prospective resource of 128 million bbl of oil to the discovery in a December 2009 report compiled for Canacol.

Drilling cost of K-2 net to Canacol’s 65% interest is $6 million, and Canacol will become operator at total depth.

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