PetroNova holds 20% working interest in the well, which was spud on 8 January 2013 and found poor sand development in the Upper Carbonera Basal section.
Though the primary target was the Upper Carbonera Basal section, mud log and petrophysical interpretation suggested a potential prospective zone in the C5 sands, the company said.
PetroNova noted that 2,711 to 2,717ft interval was perforated and tested, and yielded 100% basic sediment and water. The operator is abandoning the Guasco-1 exploration well.
With plans underway to move the rig to the Cayabana prospect in CPO-07, the company said it will continue its drilling campaign.
