Petrodorado Provides Update on Dorados-1x Well

Source: www.gulfoilandgas.com 10/10/2012, Location: South America

Talora
The exploration well Dorados-1X drilling operations started on July 31 and reached a total depth of 7,282 feet and the drilling rig has been released. The well encountered a clastic section (sand, silt and shale) of over 2,000 feet. The petrophysical evaluation indicates the lower section is water wet. The secondary target, the Tetuan, was not encountered in this well.

Multiple hydrocarbon bearing sandstones have been identified petrophysically and will be tested using a completion rig. In addition an unconventional gas-condensate shale over 500 feet thick has also been identified and workhas begun on preliminary testing to evaluate the potential in this zone. The Company expects the testing to start early November 2012.

Petrodorado is the operator of the block with a 65% Working Interest.

CPO-5
The drilling rig released from Dorados-1X is now in transit to the first well of a two well program on CPO-5, Kamal-1X, and the operator expects the well to spud before the end of October 2012.

Petrodorado has a 30% non-operated working interest in this block.

Krishna Vathyam, Chairman, President and CEO of Petrodorado Energy Ltd.
“We await testing of Dorados-1X and also are eager to begin our two well exploration drilling in our CPO-5 block.”


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