Petrodorado Provides Operations Update
Petrodorado Energy Ltd. (PDQ.V) today provided an operational update on the Talora Block and CPO-5 Block in Colombia.
The exploration well Dorados-1X started drilling operations on July 31 and has reached a depth of 6,685 feet. The well has been cased and further drilling is ongoing to reach the main target of the Caballos formation. The section drilled and cased so far has identified the following:
Multiple hydrocarbon bearing sandstones have been identified and will be tested at the end of the well.
Unconventional gas-condensate shale of over 500 feet has also been identified and preliminary testing to evaluate deliverability will be conducted at the end of the well.
As multiple zones have been identified for testing, the operational plan has been modified to test all the zones after completing drilling with a completion rig instead of the present drilling rig. The Company expects the testing results to be available in November.
Petrodorado is the operator of the block with a 65% Working Interest.
The drilling rig presently drilling the Dorados-1X well, is expected to move after completing drilling to CPO-5 to drill the first well. Present plans estimate drilling to start in the second half of October. Petrodorado has a 30% non-operated working interest in this block.
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