As previously reported, the Leono 1 discovery well encountered 133 ft of net oil pay in four separate reservoirs, and tested at a gross rate of 1,863 barrels of oil per day (bopd) (1,490 bopd net) in the Barco reservoir and at a gross rate of 1,869 bopd (1,495 bopd net) from the Gacheta reservoir.
The corporation has an 80% operated working interest in the LLA23 contract, with Petromont Colombia Sucursal Colombia holding the remaining 20% interest. The Leono 2 appraisal well encountered 121 ft of net oil pay, with the C7 reservoir testing 1,328 bopd gross (1,062 bopd net) of light oil.
Charle Gamba, President and CEO of the Corporation, commented, "The results of the Leono 2 well confirm a significant light oil discovery at Leono with good production rates from 3 of the 4 oil bearing reservoirs tested so far. We’re going to take a short break from the appraisal program and drill the Pantro 1 exploration well located right to the south of Leono before returning to Leono to execute a major appraisal and development drilling program."
The Leono 2 well was spud on 11 January 11, 2014 and reached a total depth of 12,610 ft measured depth on 26 January, 2014 with strong oil and gas shows encountered while drilling through the primary reservoir targets.
