CANACOL - Magdalena Sierra Exploration
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Name of Client |
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Estimated Budget ($ US) |
540,000,000 |
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Facility Type |
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Sector |
Oil |
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Status |
Feasibility Study |
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Location |
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Last Updated |
06-11-2012 |
Project Status
As of early April 2010, Canacol Energy has cased the Recio 1 exploration well in Colombia as a potential oil discovery, the first of three exploration wells the Corporation plans to drill in 2010. The Recio 1 well is located on the Sierra Exploration and Production Contract in the Middle Magdalena Basin of Colombia.
Canada-based international oil and Gas Company Canacol Energy has confirmed encountering oil during the drilling of non-operated Mono Arana 1 exploration well located in the Middle Magdalena Valley of Colombia.
The company has encountered oil within the shallow conventional Lisama sandstone reservoir.
Canacol Energy president and CEO Charle Gamba said the initial results of the exploration well have confirmed oil.
"This has a very positive implication for our adjacent Santa Isabel contract, which they operate with 100% working interest, where they have mapped 4 similar Lisama prospects on the basis of recently acquired 3D seismic," Gamba added.
"They plan to drill the largest prospect, Oso Pardo, in the first quarter of 2013 at Santa Isabel.
"They’re looking forward to the results from the deeper part of the Mono Arana well, where they’re testing the oil potential of the shales and carbonates of the La Luna and Tablazo formations."
Canacol is also carrying out exploration drilling programs targeting the onventional heavy oil resources in the Caguan - Putumayo Basin, and smaller light oil conventional resources in the Llanos Basin which are situated next to Rancho Hermoso field, in Colombia.
Nov 2012 Canacol Energy confirms oil in Mono Arana exploration well in Colombia (Topco)
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