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Petroamerica discovers oil at Langur-1X well on LLA19 Block in Colombia

Petroamerica Oil, a Canadian oil and gas company operating in Colombia, has discovered oil at the Langur-1X exploration well on the LLA19 Block in the Llanos Basin of Colombia.

The company completed testing operations with a stabilized test rate of 760 barrels of oil per day (bopd) from the well, which has been drilled to a total depth of 13,717ft.

The Langur-1X exploration well is now cased to assess 14.5ft of Gacheta C oil pay.

The company said the two intervals were perforated while the well was tested for under flow-assistance by coiled tubing and nitrogen and established a stabilized flow rate over the last 24hrs of 760 bopd of 24° API oil (380 bopd net to the Company before royalty) with a 27% watercut.

Equipped with an electric submersible pump, the well is likely to produce at rates in excess of 1,000 bopd during an extended production test.

The Langur-1X discovery well is being assessed for potential follow-up drilling locations by Operator Pacific Stratus Energy Colombia (50% working interest (WI)) and Petroamerica (50% WI subject to ANH - National Hydrocarbon Agency).

Ralph Gillcrist, President and CEO commented, "The Langur-1X oil discovery is very encouraging as it opens up a new play fairway in this part of the Llanos Basin for trapping light oil in low-side fault closures in the prolific Gacheta C reservoir.

"Our expectation is that future oil produced from the Langur-1X discovery has the potential to deliver some of our highest netbacks and will be in high demand as a diluent in this part of the Llanos Basin."

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