Petroamerica Tests Light Oil from its Curiara-1 Exploration Well in Colombia

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Petroamerica Oil Corp. (PTA.V), a junior oil and gas company operating in Colombia, announce an oil discovery with its Curiara-1 well, which tested light 40 API oil at an average rate of more than 800 barrels of oil per day from the Mirador Formation.

The Curiara-1 exploration well produced on test under natural flow conditions light oil and gas from a 5-foot perforated interval in the Mirador Formation. The average oil rate through a 20/64 inch restricted choke over a 22-hour period was 818 bopd with 3.4 MMCFD of gas. The well head flowing pressure during testing was approximately 3,300 psi and the watercut at the end of the test was less than 0.5%. During testing, a maximum oil rate of more than 1,200 bopd was observed and by the end of the test, the stabilized oil rate was 964 bopd. Logs indicate 8 feet of net pay and a possible gross hydrocarbon column of 50 feet in the Mirador Formation at the well. The well is currently shut-in for a pressure build-up and further evaluation. For operational reasons, the well was terminated in the Los Cuervos Formation and did not evaluate the deeper reservoir objectives of the Gacheta and Une Formations.

The Curiara-1 well is situated in the Llanos Basin of Colombia on the El Porton Block, where Petroamerica holds a 25% non-operated working interest.




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