Alange Energy said that the Topoyaco-2 well, drilled to explore the prospectivity of the Villeta and Caballos formations in the Topoyaco Block, has reached the total depth of 8,700ft, finding 114ft of total net oil pay sand and 125ft of oil saturated carbonates in the Villeta Formation.

The well logs (a package of resistivity, porosity, gamma ray and sonic) indicated 44ft of net oil pay sandstones in the N zone, 25ft of net oil pay sandstones interbeded with heavily fractured hydrocarbon saturated carbonates in the M1/M2 and B zones, and 45ft of net oil sandstones in the T zone, all in the Villeta Formation.

Petrophysical analysis indicated average porosities and oil saturations in the sandstones in the ranges of 14-17% and 55-72%, respectively.

The logs also identified a total of 10 feet, 65ft and 50ft of hydrocarbon saturated limestones in M1/M2, B and C (basal), respectively.

The Topoyaco-2, spudded on 8 August 2010, is a directional exploration well with 32 degrees of inclination, drilled to a total depth of 8,700ft measured depth (MD), with 4,300ft of horizontal displacement.

The well found the top of the Villeta N sandstones at a depth of 7,346ft MD, the top of the Villeta M1/M2 limestones at a depth of 7,610ft MD, and the top of the Villeta T sandstones at a depth of 8,420ft MD with petrophysical evidence showing 44ft, 25ft and 45ft of net pay respectively for a total vertical oil column in the three zones of 114ft.

Oil and gas shows were present along the whole perforated zone of interest, including a gusher that was earlier reported by the company.

As a result of these initial indications of oil pay, a test program is being designed to confirm the fluid content and productivity of the discovered zones that is expected to start immediately and will take approximately two weeks to complete.

The Topoyaco-1 exploration well, aimed at the B prospect, has reached 6,156ft MD covering the Villeta Formation, and will continue drilling to an estimated total depth of 6,306ft MD.

The final testing of these two wells will determine the extent of this find, and the potential appraisal drilling plans targeting the B and C prospects which, in principle, would include at least one additional well per prospect from the same slabs.