PetroMagdalena suspends Yaraqui-1X exploratory well

abarrelfullabarrelfull wrote on 10 Jan 2012 08:01
Tags: colombia petromagdalena upstream

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PetroMagdalena Energy Corp. (TSXV: PMD) announced today that the operator has decided to suspend the Yaraqui-1X well, located in the Topoyaco block, as tests over indicated log pays resulted in uneconomic heavy oil flows.

The Company has a 50% beneficial working interest in Topoyaco and Pacific Rubiales Energy Corp. holds the remaining 50% beneficial working interest and is the operator for this block, in both cases subject to ANH approval.

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