ONGC And Amerisur Spud Calao-1X Exploration Well In Colombia

(Energy Analytics Institute, Piero Stewart, 4.Feb.2019) — Amerisur Resources Plc spud the Calao-1X exploration well on the CPO-5 block using rig E-2029 on February 1, 2019, the company announced in an official statement.

Amerisur Resources is an experienced Colombian Operator with an extensive, strategic acreage position in the underexplored Putumayo in partnership with Occidental Petroleum (Oxy) and a strategic acreage position in Llanos in CPO-5 with partner ONGC.

Calao-1X is the second well to be drilled from the Indico pad to determine the prospectivity of the Lower Sands (LS3) formation around the Indico discovery. As previously announced, initial analysis by the company indicated that a 283 feet gross, 209 feet net, oil column is present in the LS3 formation at Indico-1, the company announced.

Amerisur said the Calao-1X will be a directional well, with a planned total measured depth of approximately 11,940 feet, targeting a structure alongside Indico to the southwest, towards the Aguila structure. On a simple structural basis, the company estimates potential resources at Calao-1X of between 2 and 9.8 MMBO gross. However, given the results at Indico-1, which indicate the potential for combination trapping, the Company believes potential resources may be significantly higher. The drilling of Pavo Real-1, which targets a similar structure to Calao adjoining Indico to the northeast, will follow Calao-1X, the company announced.

Amerisur holds a 30% non-operated stake in the CPO-5 block which is 70% owned and operated by India’s ONGC Videsh Ltd. The company will make a further announcement in due course once the well has been drilled and logged.

“Following the positive result from Indico-1, we are delighted to report the spudding of Calao-1X from the Indico pad to determine the size of the play,” said Amerisur Resources CEO John Wardle in the company statement. “CEO We look forward to sharing the results with our shareholders throughout this busy, and potentially transformational, period for Amerisur, which has already delivered material reserves and production growth on the basis of the Indico discovery.”

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© Energy Analytics Institute (EAI)

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