The well was drilled to a total depth of 6,160ft. Logging has identified three potential pay zones at the location with a combined net pay thickness of approximately 16ft. Swab testing and drill stem tests have been carried out on two Carbonera C7 reservoirs so far. The lower Carbonera C7 reservoir was swabbed at a rate of 375 barrels of oil per day of 23 degree API oil with no water cut.
According to Petro Vista, this zone exhibits excellent reservoir quality including high porosities and permeabilities as evidenced by pressure build-up (shut in pressure of 2069 psi). Engineering analysis indicates that this zone has the potential to produce at rates of up to 1,000bopd using artificial lift methods. The company is currently evaluating fast track production options.
The other zone that tested oil is in the upper Carbonera C7 reservoir that shows similar log characteristics and potential as the lower zone. The other potential pay zone identified is in the Carbonera C1 formation that is also productive in the area.
Petro Vista currently holds a 50% participating interest in the Morichito block subject to a 25% farmin agreement with Petroamerica Oil.
The company is engaged in the acquisition, exploration and development of oil and natural gas properties located in South America.
