President Energy PLC - oil and gas company focusing on Latin America - Says drilling rig for new wells in Rio Negro province in Argentina is now under contract, and the drilling programme is still on schedule with the first well to start by the end of March.
First well to be drilled will be LB-1002 in the Las Bases field, which will be a gas well targeting the Centaerio formation with a target depth of 1,300 metres.
The next two wells will be at the Estancia Vieja field, twins of old wells which suffered casing collapses, but before had shown proven gas production.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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