Exploration & Production | Drilling / Well Results | Exploration & Appraisals
Petro Victory Updates Progress in Paraguay
Print
|
.jpg)
Petro-Victory Energy Corp. has provided an operational and drilling update at the Lapacho prospect, Pirity block, located in Paraguay.
Petro-Victory had previously announced that it had encountered Hydrocarbons higher up in the well in the Icla Formation and that drilling would continue to penetrate the main Santa Rosa target.
The well has been currently drilled to 4,490m since setting casing at 4,125m. The drilling has continued to penetrate the main Santa Rosa target. Petro-Victory has now drilled the upper section of the Santa Rosa Formation and considers it is drilling a series of gas or gas/condensate sands.
Drilling operations have provided evidence and encouraging data including constant background gas ranging from 3% to over 12% in the circulated drilling mud to surface throughout the drilling of the hole, an operation which is currently continuing. Accordingly and due to the above information, Petro-Victory is fully intending to drill to the base of the Santa Rosa Formation to a depth of 4,600m to fully evaluate the target section.
Due to the extended drilling period a further progress announcement will be made towards early December.