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Gran Tierra Energy Inc - oil and gas exploration and production company focused on the acquisition and development of energy assets in South America - Announces test results from Arawana-J1 well in Ecuador, showing that its Cohembi field in Colombia’s South Putumayo Basin is the closest analogue to the Arawana field area by closure, thickness, rock and fluid properties. However, Arawana has lower oil viscosity due to its higher gas to oil ratio, ‘which is excellent for enhanced oil recovery by waterflooding while providing natural gas for power generation’. Company also updates on drilling operations; says that as of Monday, the Bocachico Norte-J1 well is drilling ahead at around 6,670 feet. Once this is complete, the rig will move to drill three exploration wells at the Charapa Block, before returning to the Chanangue block to drill the additional Zabaleta-K1 and Zabaleta Oeste-K1 exploration wells. CEO Guidry says: ‘We are particularly excited about the Zabaleta wells, as they are positioned up dip from Arawana-J1 and on the structural high, promising further potential for significant discoveries in the vertically stacked intervals of the Basal Tena, U-Sand, T-Sand and Hollin high permeability sandstones. Gran Tierra is currently working closely with the Ministry of Energy and Mines of Ecuador to fast track the exploration and development of all of Gran Tierra‘s Ecuadorian blocks.’ Current stock price: 750.35 pence 12-month change: up 72% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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