Ramiriqui-1 Exploration Well Encounters Oil Shows, Testing to begin in April
CALGARY, Feb. 21, 2012 /PRNewswire/ - Gran Tierra Energy Inc. (NYSE AMEX: GTE; TSX: GTE) (" Gran Tierra Energy") , a company focused on oil and gas exploration and production in South America, today announced a drilling update in the Putumayo and Llanos basins of Colombia, Recôncavo Basin of Brazil, and Noroeste Basin of Argentina .
"Gran Tierra Energy's 2012 drilling campaign is now well underway, with a mix of exploration and development drilling in both Colombia and Brazil in progress, while planning continues for additional drilling through the year in those countries, and in Peru and Argentina," said Dana Coffield, President and CEO of Gran Tierra Energy.
ColombiaLlanos-22 Block, Llanos Basin (45% working interest, subject to ANH approval; CEPSA 55% working interest and operator) Drilling operations continue on the Ramiriqui-1 exploration well in the Llanos-22 Block in the foothills of the Llanos Basin. The Mirador formation has been interpreted as oil bearing with up to 130 feet measured depth ("MD") gross thickness based on cuttings and logging while drilling. Casing is being set. Upon completion, drilling is expected to continue to evaluate deeper potential reservoir intervals and is expected to finish in March. Gran Tierra Energy expects testing of the Mirador formation, to confirm fluid content and reservoir productivity, to commence in April 2012. Chaza Block, Putumayo Basin (100% working interest and operator) The Pacayaco-1ST1 exploration well reached total true vertical depth of 5,343 feet. Approximately ten feet of oil column in the T-Sandstone was interpreted from cuttings and evaluation of wireline logs. It was determined that the formation did not contain economic quantities of hydrocarbons so the well was plugged and abandoned.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV