HRT announces the discovery of hydrocarbons in the well 1-HRT-4-AM, Block SOL-T-194, in the Solimões Sedimentary Basin

abarrelfullabarrelfull wrote on 14 Nov 2011 08:43
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HRT Participações em Petróleo S.A. (the “Company” or “HRT”) (BM&FBOVESPA: HRTP3, TSX-V: HRP), announces that its subsidiary HRT O&G Exploração e Produção de Petróleo Ltda. ("HRT O&G") forwarded to the National Agency of Petroleum, Natural Gas and Biofuels (Agência Nacional do Petróleo, Gás Natural e Biocombustíveis – ANP), Notice of Discovery of oil and gas in the well 1-HRT-4-AM.

Based on logging data, hydrocarbon shows in cuttings and gas detectors, two gasbearing intervals, with net pay of 11.2 meters and five oil-bearing intervals, with net pay of 41,2 meters, were observed in the Juruá Formation. All zones indicate good porosity.

The well was spud in August and reached a final depth of 2,806 meters, reaching the crystalline basement. The well is presently under further evaluation and in future will be cased in order to perform formation tests, with a view to characterizing the production potential of the reservoirs. The well is located in the Municipal District of Coari, in the State of Amazonas, and it was drilled by the Tuscany drilling rig - TUS-116.

HRT holds a 55% interest in 21 exploration blocks in the Solimões Sedimentary Basin,
covering an area of around 48.5 km2, where 52 prospects were mapped and estimated,
and 11 discoveries were qualified as contingent resources.

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