Petroamerica Oil Corp. provide the results of its Las Maracas-6 well drilled on the Las Maracas Field in the Llanos Basin of Colombia. The well has successfully tested 29 degree API oil from a new reservoir interval, the Une Formation, at rates of approximately 600 barrels of oil per day (bopd). The Las Maracas Field has now produced oil from three different reservoir intervals, the Mirador, Gacheta and Une Formations. The well has been completed with an electro-submersible pump and is now producing from the main middle Gacheta sand interval at a rate of approximately 1,850 bopd under natural flow and less than 0.5% water cut.

In terms of potential net pay thickness, this is the best well yet to be drilled on the Las Maracas Field. The petrophysical evaluation of the wireline logs indicates a total net oil pay of approximately 100 feet (measured depth or "MD"). Of this total amount, 25 feet (MD) are in the Mirador Formation, 53 feet (MD) in the producing middle Gacheta sand, 10.5 feet (MD) in the lower Gacheta and 11.5 feet in the Une Formation.

Tags: Petroamerica Oil Corp