Oil and gas shows were observed in the well during the drilling of the Yacorite formation, which is the primary objective. The operator of the well, APCO Argentina, plans to proceed with logging and evaluation of the well.
The Lomas de Guayacan x-1 well is the second of two exploratory wells to be drilled on the Capricorn License in Salta Province of northern Argentina in 2007-08. The two exploration wells are part of a farm-in agreement between GP Energy, Antrim Argentina and APCO Argentina.
