Crown Point Ventures Ltd. report that the well to be drilled (EV 28) has been completed as a multizone oil well. Crown Point has successfully completed a total of 22 meters of pay in 6 different zones in the Mina el Carmen,

Caleta Olivia and Cañadon Seco formations. Each of the zones was swab tested for a minimum duration of 12 hours, all zones tested oil upon perforation at individual average rates ranging from 30 bbls to 143 bbls of oil per day.

A small scale fracture stimulation program, designed to get past near well bore formation damage and increase rates of inflow, will be carried out before the well is placed on production. Crown Point is currently swab testing the combined zones at a rate of 169 bbls/day of fluid with a 95% oil cut.

Tags: Crown Point Ventures Ltd