HRT concludes drillstem test of well 1-HRT-9-AM, in the Solimões Basin

abarrelfullabarrelfull wrote on 13 Sep 2012 11:08
Tags: brazil hrt s-america upstream

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HRT Participações em Petróleo S.A. ("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 drillstem test in well 1-HRT-1-AM, block SOL-T-191, in the Solimões Basin.

"This is one of the best gas wells ever drilled and tested onshore Brazil, considering the thickness and quality of the reservoir as well as the DST flow results. It not only confirms the gas trend to the south and east of the Juruá Field, showing integration with the natural gas findings of wells 1-HRT-5-AM, 1-HRT-8-AM and 1-HRT-2-AM, but it opens a new exploration frontier to the southwest. HRT believes that this structure has a potential flow rate of up to 3.0 million cubic meters (105 million cubic feet) of natural gas per day, when it reaches its development phase. This discovery plays a key role in the assessment of the gas potential of the Solimões Basin", mentioned Milton Franke, Chief Executive Officer of HRT O&G.

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