Canacol Energy said that its Mono Arana 1 exploration well has been drilled and cased to a 9,942ft measured depth within the Cretaceous La Luna Formation located in the Middle Magdalena Valley of Colombia.

The Mono Arana 1 well was drilled on 23 September 2012, in order to identify the oil potential of both the shallow conventional Tertiary Lisama sandstone reservoir and deeper shale and carbonate reservoirs within the La Luna and Tablazo oil source rocks.

As drilling progressed, about 760ft of La Luna was encountered, along with a good amount of oil and gas traces found throughout the interval.

High pressure was encountered as drilling continued in the deeper prospective zones of the La Luna and Tablazo sections, so penetration ceased and casing was set within the La Luna Formation.

Canacol has a 20% non-operated working interest in the Mono Arana 1 well, which was drilled as part of the VMM2 Exploration and Production contract.

ExxonMobil Exploration Colombia holds 70.1% working interest in the well, while Vetra Exploracion y Produccion Colombia holds 9.9% operated working interest.