Page 15 - LatAmOil Week 10 2023

LatAmOil NEWS IN BRIEF LatAmOil

Touchstone has an 80% operating working inter- 310 feet of Herrera section below what was producing from those zones. A submersible
est in the well, which is located on the Ortoire observed in Royston-1. The overall Herrera pump has been inserted but not turned on. The
block onshore in the Republic of Trinidad and section drilled in Royston-1X contains approx- well flowed naturally at rates equivalent to 2,000
Tobago. Heritage Petroleum Company holds the imately 765 net feet of sand. The well is currently bpd of oil gross for four hours after unloading
remaining 20% working interest. being cased, and we plan to commence comple- kill fluid. The well is currently being choked
Highlights: Royston-1X was drilled to a total tion and testing operations in April 2023 which back with a 18/168” choke and, in the last 24
depth of 11,316 feet and is the deepest explora- are anticipated to include multiple test intervals. hours, it has produced at a rate of 968 bpd of
tion well drilled by Touchstone. Exceeding The Royston-1X well was the sixth explora- oil gross (484 bpd of oil net) of oil at 28.5 API
pre-drill expectations, the well encountered an tion well (4.8 net) drilled under Touchstone’s and with a 0% water cut. The Company will
encouraging total Herrera turbidite thickness Ortoire Exploration and Production Licence. provide a further update on production rates in
of 1,664 feet with an estimated 765 feet of net The Company has an 80% working interest in due course.
sand penetrated. Mud logging and wireline logs the licence but is responsible for 100% of the Initial production results are not necessar-
indicate hydrocarbon accumulations in the tar- drilling, completion and testing costs associ- ily indicative of long-term performance or ulti-
geted Herrera sections. Drilling operations took ated with this well. Heritage holds the remain- mate recovery.
approx. 25 days which was ahead of schedule ing 20% working interest. Marshall Abbott, CEO of Arrow com-
and on budget. The well is currently being cased Touchstone Exploration, 02 March 2023 mented: “We are very encouraged by the initial
and prepared for production testing. production of RCE-3, the fourth well on the
Paul Baay, President and CEO, commented: Arrow Exploration issues Tapir block. The well was completed in the C7-A
“We are encouraged by the Royston-1X drilling and C7 Stringer zones with additional zones
results yet remain cautiously optimistic until update on RCE-3 well currently behind pipe.
production testing is completed. Not only is this “RCE-3 is currently flowing better than
the deepest well we have drilled to date but it RCE-3 producing from the C7-A and the C7 expected. The Company is choking the well
also is the deepest well drilled onshore Trinidad Stringer: Arrow Exploration has provided an back in an effort to manage the reservoir and
in the last 15 years. The fact that the well was update on the Rio Cravo Este-3 well (‘RCE-3’), discourage premature water production. Arrow
drilled ahead of schedule and within our budget an appraisal / development well on the Tapir plans to engage the pump and slowly increase
can be attributed to the best-in-class industry Block in the Llanos Basin of Colombia. production once the well has stabilised.
standards that Touchstone is driving within RCE-3: The RCE-3 well was spudded on Feb- “The continued strong production rates
Trinidad, both through the introduction of new ruary 8, 2023 and reached target depth on Feb- from existing tied-in wells combined with the
equipment, as well as additional expertise that ruary 16, 2023. RCE-3 targeted a three-way fault encouraging results from new wells in Colom-
we have added to our technical team. bounded structure with multiple high-quality bia continues to provide us with confidence that
“We are encouraged by the hydrocarbon reservoir objectives on the Tapir Block in the our objective of achieving a production rate of
indications internally interpreted from open- Llanos Basin of Colombia. The well was drilled 3,000 boe/d within 18 months of the AIM list-
hole wireline logs, which show that the well to a total measured depth of 8,880 feet (8,087 ing can be achieved. This is an exciting time for
successfully intersected the Herrera Formation feet true vertical depth) and encountered seven Arrow, and we look forward to providing fur-
through the sub-thrust level in one of the thick- hydrocarbon bearing intervals totaling 58 net ther updates on our progress.”
est turbidite sections observed in any of our pre- feet of oil pay. The RCE-3 well costs came in under budget
vious wells. Once the drilling pad is completed The well was completed in the C7-A and and was the quickest well drilled to date on the
at our Cascadura C location, the drilling rig C7 Stringer zones and the well is currently block.
will be moved off the Royston location, and we
will commence a comprehensive testing pro-
gramme that is currently anticipated to begin in
April. We will update the market when results
become available.”
Royston-1X Drilling: Royston-1X was
drilled using Star Valley Drilling Rig #205
and is a sidetrack from the original Royston-1
exploration well drilled by Touchstone in 2021.
Royston-1X kicked off from the Royston-1
wellbore at a depth of approximately 7,150 feet
and reached total measured depth of 11,316
feet on February 24, 2023. The sidetrack well
was designed to further explore the thick
sequence of Herrera sandstones encountered
at Royston-1.
Drilling samples and open-hole wireline
logs indicated that the well encountered a sig-
nificant Herrera turbidite package with aggre-
gate estimated thickness in excess of 1,660 feet.
The Herrera turbidite section was identified at
a measured depth of 9,558 feet, approximately
330 feet structurally higher than in the original
Royston-1 well and penetrated approximately

Week 10 08•March•2023 www. NEWSBASE .com P15