Canacol Energy Ltd. is pleased to report reserves for its Oboe appraisal well tested in March, 2016 on the VIM 5 block.
The Oboe1 well was completed and tested in 3 of 11 different sandstone reservoir intervals within the Cienaga de Oro (CDO) reservoir. The 3 tests flowed at peak rates of 13, 26 and 26 million standard cubic feet per day (mmscfpd). The well is in the process of being tiedin to the Clarinete flow line where it is expected to commence permanent production by September 1, 2016. Clarinete 1 and 2ST are currently producing 35 mmscfpd of gas. Oboe1 further appraises the Clarinete gas field structure and adds 38 billion standard cubic feet (bscf) of additional gas reserves to Canacol’s existing portfolio of 3P gas reserves of 419 bscf.
Canacol is currently in the process of drilling the Nispero 1 exploration well in the Esperanza block located in the Lower Magdalena Valley basin. Upon completion and testing of the Nispero 1 well the Corporation will either drill and follow up with an appraisal well, or will mobilize the drilling rig to drill Nelson 6 well, which will test the shallow gas bearing Porquero formation.