Surrounded by oil7 Jan 2019 11:20
Been doing some historical research this morning on the blocks North and West of CPO-5, we are in some very good company.
Adjacent blocks to the West is CPO-4, CPO 4 Block consists of 345,452 net acres and contains over 100 identified leads or prospects with estimated recoverable reserves of 1 to 4 billion barrels ? The Block is located along the highly productive western margin of the Llanos Basin and is adjacent to Apiay field which is estimated to have in excess of 610 million barrels of 25-33 API oil recoverable. On the CPO 4 Block’s Northeast side lies the Corcel Block where well rates of 2,000 to 14,000 barrels of initial production per day have been announced for recent discoveries. ? In addition, the CPO 4 Block is located nearby oil and gas pipeline infrastructure.
Guatiquia Block - Candelilla Wells ? Guatiquia Block is located directly adjacent to the CPO-4 Block, with the Candelilla- 1 & 2 wells located approximately 3 kilometers away from the CPO-4 block ? Candelilla-1 commenced drilling on November 9, 2009 and was drilled to a total vertical depth of 11,681 feet on December 16, 2009. Well logs indicated 97 feet of potential net oil pay in the Lower Sand 3 formation and 13 feet of potential net oil pay in the Upper Mirador ? Candelilla-1 well commenced production in late December of 2009 at over 11,500 barrels of oil per day of 44 degree API oil with less then 1% water cut, and has flowed naturally at an average rate of 10,900 barrels of oil per day of light 44 degree API oil since it was placed on production ? Candelilla-2 well commenced drilling on December 26, 2009 and was drilled to a total vertical depth of 11,740 feet on January 31, 2010. Well logs indicate 88 feet of potential net oil pay in the Lower Sand 3 formation and 51 feet of potential net oil pay from three separate sands in the Guadalupe formation
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