HRT concludes drill-stem test in well 1-HRT-5-AM in the Solimões Basin

abarrelfullabarrelfull wrote on 11 Apr 2012 19:27
Tags: brazil hrt s-america upstream

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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") has concluded the drill-stem test run in the well 1-HRT-5-AM, in the block SOL-T-192 at the Solimões Basin, which is jointly exploring with TNK-Brasil.

The test was successfully concluded on April 8 and exhibited exceptional flow characteristics through a vertical well, reaching a production of 13.1 million cubic feet (370 thousand cubic meters) of gas per day with choke of 40/64".

"This result met our expectations. The well drilled on a previously untested structure opens up a new gas production trend in the Solimões Basin. We believe that this structure has a potential flow rate of 70.7 million cubic feet (2 million cubic meters) of natural gas per day when it reaches its development phase." mentioned Milton Franke, Chief Executive Officer of HRT O&G.

The well 1-HRT-5-AM is located in the block SOL-T-192 and is situated 20 km southern of the Juruá Province. HRT O&G holds 55% working interest in this block and TNK-Brasil the remaining 45% interest.

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