Gold Oil said that Burdine-5 well in Colombia's Putumayo basin in Colombia has been brought on stream following a successful workover operation.
The Latin American oil and gas explorer, which holds a 58% working interest in the Nancy, Burdine and Maxine block in the Putumayo Basin, commenced a three-well work-over program in the Burdine field at the start of the year.
The workover program for the well was completed in February and since then surface facilities and artificial lift pumping mechanisms have been installed, ahead of original plans.
The initial flow rates indicated that the well will produce at approximately 350 barrels of fluid per day with a water cut of some 15%, giving an oil production rate of around 300bopd.
This mark a significant increase on the 100bopd produced during a long-term production test in 2009.
Greater definition of sustainable flow rates will be given once the well has been on production for a suitable period of time and the artificial lift mechanism and production facilities optimized.
The production from Burdine -5 is in addition to the current volumes produced from the Gold Oil operated Nancy -1 well of approximately 300bopd and hence will effectively double its total net production.
The workover rig has now moved to Burdine -1 and has commenced operations at that location.