Brownstone Ventures said that it has been advised by Quetzal Energy, the operator of the Canaguay-1 well on the Canaguaro Block in the Llanos Basin of Colombia that the Saxon #132 rig has been erected on the Canaguay-1 well that is expected to begin the completion and testing operations soon.
The drilling operations began on 3 June 2010 and the well was successfully drilled to a total depth of 15,850ft on 4 August 2010.
Well logs indicate in excess of 100ft of potential net oil pay in several oil zones including the Mirador, Barco, Gacheta and Une, with the Mirador zone containing the majority of the indicated oil pay.
The completion and testing operations will begin with the Une/Lower Sandstone and testing of all potential zones is expected to take approximately four to six weeks.
Brownstone has also been advised by the operator, Quetzal, that the processing of 220sq km of 3-D seismic data on Block LLA-27 in the Llanos Basin of Colombia has been completed.
It is expected that the interpretation and mapping of the LLA-27 3-D seismic will be completed in the fourth quarter of 2010.
Brownstone has a 25% working interest in the Canaguaro Block.