: JACARANDA E&P CONTRACT
| Working Interest: |
100% |
| Location: |
Llanos Basin |
| Area: |
235 sq.km |
| Contract Period: |
Contract awarded in March 2007, exploration period of up to six years, initial production period of up to 24 years per field |
| Operator: |
Emerald Energy |
The Jacaranda Contract is located in foreland of the Llanos Basin, in Colombia, 130 km to the southwest of the Company’s Campo Rico operations. The Jacaranda Contract has been awarded by the ANH, the National Hydrocarbon Agency of Colombia, and a copy of the model contract terms can be found on the ANH website (www.anh.gov.co).
A 55 kilometre 2D seismic data acquisition programme, conducted in 2007, matured the identified lead to the Jacinto drill-ready stratigraphic prospect.
The Jacinto No.1 exploration well was drilled in 2009 to a total depth of 6,460 feet. Hydrocarbon shows and a well developed sand channel were encountered while drilling through the Carbonera formation but wire-line log evaluation indicated the sand channel to be water bearing. Following this result, the well was plugged and abandoned.
Subsequently, the Company notified the ANH that it has decided not to enter the third exploration phase in the block, and to relinquish the block.
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