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Gran Tierra confirms oil discovery at Juanambu-1 in Colombia
Petroleumworld
CARACAS
Petroleumworld.com 05 30 07
Canadian Gran Tierra Energy Inc. (OTC Bulletin Board: GTRE), a company focused on oil exploration and production in South America, today announced that it has successfully completed a drill stem test (DST) program on its recently drilled Juanambu-1 exploration well in the Guayuyaco Block, Putumayo Basin, in southern Colombia.
Production at a combined natural flow rate of 589 barrels of oil per
day (BOPD) of 32 degrees API oil with constant well-head flowing pressure
was obtained in three independent reservoir intervals. In addition, two
additional zones produced oil with swabbing. One produced 6 BOPD and the
other produced 183 BOPD with a jet pump.
An optimum well completion program is currently being designed; typical
completions in adjacent producing fields utilize jet pumps, which can
significantly increase production rates above natural flow rates.
Final test results are being integrated into an application for
declaration of commerciality for submission to Ecopetrol, the state oil and
gas company of Colombia. Early production will be initiated by trucking to
nearby facilities operated by Gran Tierra Energy. Upon approval of
commerciality, additional facilities may have to be constructed to handle
the production and transport the oil by pipeline.
Six different reservoir intervals were tested by six independent DSTs
as follow from the lower to upper zones: Lower Caballos sandstone, Middle
Caballos sandstone, T sandstone, U sandstone, A limestone and Kg sandstone:
-- DST-1 (Lower Caballos) perforated and tested intervals 9041'-9046' and
9048'-9054' (11 feet). After swabbing, the stabilized well production
in natural flow was 77 BOPD (32.4 degrees API) with a trace of water
(completion fluid). The well was producing in natural flow for 14
hours.
-- DST-2 (Middle Caballos) perforated and tested intervals 8998'-9004' and
9006'-9023' (23 feet). After swabbing, the stabilized well production
in natural flow was 354 BOPD (32.5 degrees API) with a trace of water
(completion fluid). The well was producing in natural flow for 24
hours.
-- DST-3 (T sandstone) perforated and tested intervals 8867'-8882' and
8886'-8910' (39 feet). After swabbing, the stabilized well production
in natural flow was 158 BOPD (31.4 degrees API) with a trace of water
(completion fluid). The well was producing in natural flow for 30
hours.-- DST-4 (U sandstone) perforated and tested interval 8710-8714 (4 feet).
The well production by swabbing was 6 BOPD (27 degrees API) with 71%
BSW and 19,000 ppm of chlorides (completion fluid).
-- DST-5 (A limestone) perforated and tested intervals 8560'-8566' and
8572'-8600' (34 feet). These intervals did not flow any measurable
fluid volume.
-- DST-6 (Kg sandstone) perforated and tested interval 7995'-8010' (15
feet). After swabbing, the well was not able to flow naturally. The
oil production rate on jet pump was 183 BOPD (21 degrees API) with 12%
BSW during the last 8 hours.
Gran Tierra Energy holds a 50% working interest and is the Operator of
the Guayuyaco Block. Solana Resources Limited holds a 50% working interest
and Ecopetrol has a 30% interest back-in right on commercial discoveries,
which if exercised, would reduce Gran Tierra Energy working interest to 35%
and Solana Resources Limited working interest to 35% in this new commercial
field.
The service rig used in these testing operations is being redeployed to
the Costayaco-1 exploration well location in the adjacent Chaza Block to
begin testing operations. Costayaco-1 encountered similar oil shows in the
same reservoirs that were tested in Juanambu-1, and which are currently
producing in adjacent oil fields operated by Gran Tierra Energy. Gran
Tierra Energy is the operator of the Chaza block with a 50% working
interest.
Dana Coffield, President and CEO stated "We are thrilled with the
results of the test program. The oil quality is better, and the reservoir
performance is far superior than is found in our adjoining producing
fields. We look forward to working with Ecopetrol to attain commerciality
of this new field, and bring on new production utilizing the local
infrastructure operated by Gran Tierra Energy."
Gran Tierra Energy Inc. is an international oil and gas exploration and
production company, headquartered in Calgary, Canada, incorporated and
traded in the United States and operating in South America. Gran Tierra
holds interests in producing and prospective properties in Argentina,
Colombia and Peru.
Petroleumworld 29 05 07
Copyright© 2007 Petroleumworld. All Rights Reserved.
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