Drilling at the well, located in the municipality of Tello, began on 27 January 2011 and the well reached a total depth of 7371ft three weeks later.
Initial testing on the Honda formation showed a flow volume of 318 barrels with a 71% water cut, yielding an average of 92 barrels of oil per day, and the quality of the crude is 30 degrees API.
The company said that it plans extensive tests in order to determine the production potential of the Honda formation and the volume of recoverable hydrocarbons.
