The Hontomin prospect is 1350mt to 1500mt subsurface and is a proven Lower Jurassic Lias Calcarenite hydrocarbon formation discovered by Chevron in the 1960s which initially tested at an initial rate of 700bopd, the company said.
The structure is formed in a faulted thrusted anticline and covers a maximum area of 2.9sqkm with probabilistic OIIP of 2.40mmbo Mean, 5.71mmbo P10, 1.34mmbo P50 and 0.29mmbo P90.
The company added that the goal of the Hontomin program is to appraise the long term production potential of the Hontomin-2 well. The program is expected to take four weeks to drill-out and re-complete prior to monitoring production performance over the coming months. The perforation of the existing hydrocarbon intervals and other potential undepleted zones is currently planned for start in the fourth quarter of 2010.
The information from the well will also be used to further appraise the larger Lower Jurassic conventional oil prospect below the Ayoluengo producing oilfield. All well test production from Hontomin will be transported 38km to the production facilities at the Ayoluengo oilfield for processing and oil sales.
