PETRODORADO ENERGY LTD ("PDQ-V") - Exploratory Success In Its Visure-1x Well, Buganviles Block
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Petrodorado Energy Ltd. ("Petrodorado" or the "Company") announces a new exploratory success at its Visure-1X well, located in the Buganviles Block, Upper Magdalena Valley Basin, Colombia.
The Visure-1X well, located in the Visure prospect, to the southeastern border of the Buganviles Block, was drilled to evaluate a structural trap, similar to the nearby producing Abanico field, to the northeast. The well had three main exploratory targets: the Upper, Lower Cretaceous Guadalupe Formation and the Tertiary Barzalosa Formation. The well was drilled slightly deviated at an angle of 9 degrees and found the top of the Barzalosa Formation at 2,206 feet MD (1,040 feet TVDSS), the Upper Guadalupe at 2,995 feet MD (1,825 feet TVDSS), the Lower Guadalupe at 3,079 feet MD (1,908 feet TVDSS), and the top of Villeta Formation at 3,272 feet MD (2,099 feet TVDSS).
The petrophysical evaluation of the well in Barzalosa, Upper and Lower Guadalupe Formations indicated a total liquid hydrocarbon net pay of 114 feet in the three intervals, ranging from 24.5 to 45.5 feet of net pay and 16% to 26% average porosity. In additional to the oil bearing sandstones, the well also encountered gas saturated sandstones in the Barzalosa Formation (3 feet).
The Visure-1X well was drilled in the southwestern flank of the Visure prospect, and confirmed an oil-water contact at 1,970 feet TVDSS in the Lower Guadalupe Formation, and according to the seismic interpretation, the crest of the structure at this level, 0.7 km to the northeast, has been mapped at 1,915 feet TVDSS, which could imply an additional 65 feet of hydrocarbon column for the Visure prospect in the Lower Guadalupe Formation. The Company is now presently preparing the testing of the Lower and Upper Guadalupe formations, and plans to complete Visure-1X as a Guadalupe producer...
114 jalkaa nettoa noilla huokoisuuksilla meinaa kohtuu hyvää ip:tä. Valitettavasti vettäkin on. Toisaalta vesi voi antaa kunnon painetta öljylle.
Huhtikuinen karkea laskelma PDQ:n odotusarvoksi oli noin $590 miljoonaa, markkina-arvo nyt $244 miljoonaa.
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