The EV 22 well during an extended production test is freely flowing oil using a 10mm restricting choke at test rates of 443bbls/day total fluid, 70% of which is oil, or 300 bbls/day of oil.
This well was completed in the Caleta Olivia formation of the Golfo San Jorge Basin in southern Argentina.
Three other potentially oil-bearing zones remain to be tested in the Canadon Seco zone, which management expects will generate additional commercial production.
These zones will be held behind pipe for a future completion operation when the natural decline in production from the current zone warrants their completion.
