(Alliance News) - Echo Energy PLC said Thursday it has commenced the drilling of the Campo La Mata x-1 well on its Tapi Aike licence in Argentina.
The oil and gas firm said Campo La Mata x-1 well is the first well of an expected four-well Tapi Aike exploration drilling programme and is located in the eastern portion of the 3D seismic area, the Chiripia Oeste.
The primary target of the well is a stratigraphic trap which lies in the Magallanes Formation, at an approximate depth of 2,000 meters, while a secondary horizon is in the Anita formations at depths of 2,225 meters, company said.
Campo La Mata x-1 well will be drilled to a total measured depth of approximately 2,600 meters, and core samples from Magallanes formation will be extracted and tested.
The completion of the well is expected to take approximately four weeks. Should the test results of drilling and logging support further operations, this is anticipated to take a further five to six weeks, the company said.
Echo Energy shares were up 2.6% in London at 2.72 pence each on Thursday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Echo Energy (ECHO)