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Petroamerica Well Hits Mirador Formation; Flows Oil

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Petroamerica Well Hits Mirador Formation; Flows Oil

Petroamerica Oil Corp. has reported the results from its Las Maracas-10 development well which tested under natural flow, light 29.8o API oil, at an average rate of approximately 1,000 barrels of oil per day (bopd) from the Gacheta Formation.

The Las Maracas-10 development well was specifically targeting attic oil in the main Gacheta reservoir, however, it also unexpectedly encountered oil in the Mirador Formation on the downthrown side of the main fault delineating the field. The well encountered a total net pay thickness of 48 feet, 34 feet of which are in the Gacheta and Une Formations, and 14 feet in the Mirador Formation. The well produced on test under natural flow conditions, light oil (29.8o API) from a 16-foot perforated interval in the main Gacheta sand. The total duration of…

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