Petro Vista Energy’s main targets include the Carbonera C7 and Mirador formations which have pumped as high as 2,000 barrels of oil per day from close by well analogs. This well is the first of two exploration wells at Morichito. The second well, Morichito #3, will be drilled with the same rig subsequent to the conclusion of M#1N and is anticipated to spud in the second quarter of 2009. The company expects outcome from the M#3 well by mid-June 2009. Both prospects were recognized on newly re-processed 3D seismic and confirm well-defined structural closures typical of fields in the Llanos basin.
Following the conclusion of the 2009 work program on the Morichito block, Petro Vista Energy plans to carry out a four-well exploration program on its La Maye block in the Magdalena basin, Colombia and begin initial seismic work on its block SSJN-5, also in the Magdalena basin, in partnership with SK Energy Corp.
