Page 10 - LatAmOil Week 49 2019

LatAmOil
NEWS IN BRIEF
LatAmOil
UPSTREAM
Canacol Energy wins
three new conventional
gas exploration blocks in
Colombia
Canacol Energy Ltd. is pleased to announce it has successfully secured a 100% operated working interest in three new conventional gas exploration contracts in the recent bid round (Proceso Permanente de Asignación de Areas Ciclo 2) administered by Colombia’s hydrocar- bon regulatory authority, the Agencia Nacional de Hidrocarburos (ANH).
Mark Teare, Senior Vice President, Explora- tion of the corporation, commented: “Our suc- cess in the bid round enables us to build out our existing land position in the Lower Magdalena Valley basin where the corporation has estab- lished itself as Colombia’s leading independent producer of conventional natural gas. Further- more, with a view to expanding our exploration portfolio, we have established a new core conven- tional natural gas exploration area in the Middle Magdalena Valley basin where we have won two blocks totalling 160,666 net acres [650.2 square km]. We expect to initiate exploratory activity on our new blocks in 2020, with a view to drilling in 2021 and 2022. By extending our exploration efforts for conventional natural gas to the Mid- dle Magdalena Valley basin, the corporation continues to execute its successful conventional gas exploration strategy to replace declining production from the mature gas fields located in the Guajira and at Cusiana-Cupiaguain [in] the
Llanos Basin.”
Under its wholly owned subsidiary CNE Oil
&Gas S.A.S., Canacol was awarded conventional exploration contract VIM 33 in the Lower Mag- dalena Valley basin, and conventional explo- ration contracts VMM 45 and VMM 49 in the Middle Magdalena Valley basin.
The winning bids commit the corporation to an exploratory work program including geolog- ical studies, seismic and wells over a three-year phase (Phase 1) on each of the exploration con- tracts. Once Phase 1 is complete, the corporation has the option to extend the exploratory work program by an additional three years (Phase 2) on each of the exploration contracts.
Canacol Energy, December 09 2019
Argentina: Crown Point provides update on Cerro de Los Leones drilling operations
Crown Point Energy has provided an operations update on its drilling activities on the Cerro de Los Leones (CLL) exploration permit.
As previously reported in our November 12, 2019 press release, two exploration wells had been scheduled to be drilling during Q3/Q4 2019 on the Company’s operated CLL explora- tion permit located in the Province of Mendoza (net working interest 100%). The first of these wells, SRM x-1001D, was drilled to a total verti- cal depth of 1333 meters and cased as a potential discovery on November 2, 2019 after well log analysis indicated a potential 5-metre hydro- carbon bearing zone in the Agua de la Piedra
formation (middle Tertiary) between 1,021 and 1,026 metres true vertical depth. The well was deviated at approximately 40 degrees north of its surface location to intersect the crest of a struc- ture which lies beneath the Rio Malargüe flood- plain on the northern CLL exploration permit.
The rig was subsequently moved 1 km to the west of the surface location of SRM x-1001D to drill and test the Tertiary sandstones on an extension of the structure. Drilling operations on the second well, SRM x-1002D, commenced on November 10 and the well reached a final vertical depth of 1,183 metres on November 18, 2019. The well was then abandoned after well log analysis confirmed the absence of hydrocarbons.
Testing and evaluation of SRM x-1001D commenced on November 20 and are ongoing. Crown Point will release the results after testing and evaluation operations are completed.
The drilling and evaluation of the two explo- ration wells has satisfied the remaining phase two work commitment on the CLL exploration permit. The company had requested and was granted a four month extension (to February 23, 2020) to accommodate the drilling and evalua- tion of both wells.
Crown Point Energy, December 08 2019
Houston American Energy
doubles participation in
Colombian project
Houston American Energy Corp. today announced the acquisition of an additional interest in Hupecol Meta, doubling its interest in Hupecol Meta previously announced on Octo- ber 22, 2019.
Hupecol Meta owns the 639,405 gross acre CPO-11 block in the Llanos Basin in Colombia, comprised of the 69,128 acre (279.8 square km) Venus Exploration area, operated by Hupecol, and 570,277 acres which was 50% farmed out to Parex Resources by Hupecol. In total, the CPO-11 block covers almost 1,000 square miles (2,600 square km) with multiple identified leads and prospects expected to support a multi-well drilling programme.
Through its membership interest in Hupecol Meta, Houston American now holds a 2% inter- est in the Venus Exploration area and a 1% inter- est in the remainder of the block.
The increased participation in CPO-11 com- pliments Houston American Energy’s recent efforts to expand its acreage position which, over the last year, has resulted in the acquisi- tion of positions in two blocks in the Midland sub-basin of the Permian Basin totaling approx- imately 6,500 gross acres (26.3 square km) plus the 639,000-plus gross acre (2,590 square km) CPO-11 block.
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Week 49 12•December•2019