Gran Tierra Energy Inc, a company focused on oil and gas exploration and production in South America, announced a drilling update in Recôncavo Basin of Brazil.
REC-T-142 Block, Recôncavo Basin (Gran Tierra Energy 70% working interest and operator)
Gran Tierra Energy expects drilling of the 1-GTE-6-BA oil exploration well to begin in July 2012. This operation will commence with the drilling of a vertical pilot hole from which core samples will be acquired from the prospective reservoir section. Including the already drilled 1-GTE-01-BA oil exploration well, this is expected to be the second vertical pilot hole drilled on the REC-T-142 Block.
Gran Tierra Energy plans to drill a horizontal sidetrack from each of the pilot holes to test the productivity of the light oil sandstone reservoir target beginning with 1-GTE-1-BA in April 2012.
REC-T-129 Block, Recôncavo Basin (Gran Tierra Energy 70% working interest and operator)
Drilling of the 1-GTE-02-BA oil exploration well began on November 23, 2011. The well reached total depth of approximately 6412 feet measured depth and is suspended while plans are finalized for drilling a horizontal leg in mid 2012.
REC-T-155 Block, Recôncavo Basin (Gran Tierra Energy 70% working interest and operator)
Gran Tierra Energy expects drilling of the 1-GTE-5-BA oil exploration well to begin in June 2012. The well is located in Block REC-T-155 in the Recôncavo Basin. Similar to the vertical pilot holes drilled on the REC-T-142 Block, Gran Tierra Energy expects to drill a horizontal sidetrack well following the pilot hole to test the productivity of the reservoir sandstones.
Gran Tierra Energy completed drilling of the 3-GTE-03-BA development well which is situated 1.2 kilometers north-northeast of the 1-ALV-2-BA discovery well. Oil bearing reservoir intervals in the Sergi and Agua Grande formations were encountered and plans are moving forward to complete the well and place the well on production in May. A second development well located approximately 0.7 kilometers south-southwest of the 1-ALV-2-BA discovery well began drilling on January 8, 2012. The well operations are currently ongoing at 3-GTE-4-BA. No further development wells are planned on this discovery at this time.
