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UPDATE: Petrodorado Down 4% to Near Year Lows Despite Operations Update

Petrodorado Energy Ltd. (PDQ.V) announced exploratory success in Kamal-1X well in the CPO-5 Block, Llanos Basin, Colombia

Kamal-1X, the first exploration well in the CPO-5 block, was spudded on October 29, 2012, and reached the target depth of 10,500 feet. The primary target of Mirador encountered a net pay of 20 feet.

The company said this test was performed to confirm hydrocarbon production and to determine the optimum placement of a jet pump and not to determine maximum production rates.

PDQ has fallen to $0.115 by 4%, moving closer to year low $0.105.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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