PetroNova Provides Production Testing on Pendare 3H Well

Source: www.gulfoilandgas.com 3/2/2015, Location: South America

PetroNova Inc, a company engaged in the exploration and development of oil and natural gas resources in Colombia, announced positive production testing results of its Pendare 3H horizontal appraisal well on its CPO-13 Block, in which PetroNova has a 20% working interest ("WI").

"We are very encouraged by the Pendare 3H production test as it confirms that horizontal well completion in Pendare's high-quality reservoir rock is capable of delivering high flow rates," said Antonio Vincentelli, President and CEO of PetroNova.

Further to our Operational Update dated February 16, 2015 we are pleased to announce that the Pendare Horizontal Appraisal well was production-tested with an electric submersible pump operating at low frequency (35 Hz). The well was tested over a period of 10 days and at the end of the test, achieved a stabilized flow rate of 1,080 barrels of fluid per day and 16% BS&W of 13.4 API oil. The well will be placed on extended testing upon approval from the Agencia Nacional de Hidrocarburos "ANH".


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