HRT announces the discovery of hydrocarbons in well 1-HRT-9-AM, Block SOL-T-191, in the Solimões Basin

abarrelfullabarrelfull wrote on 28 Aug 2012 05:49
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") submitted to the National Agency of Petroleum, Natural Gas and Biofuels (Agência Nacional do Petróleo, Gás Natural e Biocombustíveis - ANP), Notice of Discovery of gas in the well 1-HRT-9-AM.

Based on hydrocarbon shows in cuttings, mud logging gas detection and wire line logging, three gas-bearing reservoir intervals were observed in the Juruá Formation, between 2,740 and 2,800 meters depth, with approximately 30 meters net pay. "This well absolutely has the best reservoir permo-porosity characteristics and net pay observed among previous HRT`s drillings", mentioned Milton Franke, Chief Executive Officer of HRT O&G.

Well 1-HRT-9-AM once more confirms the gas trend extension to the southwest, thus opening a new exploratory potential in the area of block SOL-T-191. This discovery, together with the three ones already made by wells 1-HRT-2-AM, 1-HRT-5-AM and 1-HRT-8-AM confirm the large gas potential of the Tefé Cluster and represent an important advance in HRT’s objective to monetize the natural gas of the Solimões Basin.

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