The company said that that there were oil and gas shows in both the N and U sands during drilling operations.
Together with Emerald Energy, the operator of the Maranta Block, a decision was made to first test the U sand, and depending on test results and other information gathered, to make a decision whether to test the N sand.
The Mirto-2 well was perforated at the uppermost part of the U sand and during the five day production test period, the Villeta U sand interval produced on average 690 barrels of fluid per day (BFPD), with an average water cut of 95.9% (29 Barrels oil per day – bopd of 31 degrees API oil – Gross).
Crude oil production was increasing slowly during the test period reaching a total of 48.2bopd gross with a water cut of 93.7% on the last day of testing.
Oil and gas shows were seen during drilling and the core samples from the wellbore, indicated good oil saturation at the top of the sand upon inspection.
Mirto-2 was drilled as a deviated well off the same location as Mirto-1, with a TD approximately 1600ft to the south-west of Mirto-1.
Initial test production data from Mirto-1 was approximately 731bopd gross of 32.5 API oil.
Emerald and La Cortez have planned to run cased-hole logs to confirm perforation position in depth and execute additional analysis of the core sample taken from the well while drilling.
Depending upon evaluation of this new information, it will be determined whether to conduct additional production testing on the U sand or to temporarily isolate this interval and conduct production testing on the Villeta N sand which showed good oil and gas shows while drilling.
These proposed actions are expected to take place within the next three weeks.
