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Norwood sees oil show in Nicaragua


Published Mar 11, 2008
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Norwood reports abundant in-place oil on the Oklanicsa Concession

Vancouver-, Canada based Norwood Resources Ltd. has hired Schlumberger to help it drill and understand a rich but shallow oil shows at its Maderas Negras well in Nicaragua.

A test well showed oil from 75 feet to 650 feet ahead of a planned first exploration well to 6,500 ft. Only weak gas shows were found, suggesting no below-surface drilling hazards.

The Maderas Negras-1 will spud by the end of March 2008.

Meanwhile, Schlumberger, has been hired for future petrophysical logging services and a design of production testing for Maderas Negras and the nearby San Bartolo wells.

Tags: Norwood Resources Ltd.




   

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