The company has also commenced the acquisition of 185sqkm of 3D development seismic over the field. The Capella discovery is located on the Ombu E&P Contract in the Caguan – Putumayo basin of southern Colombia.
Canacol, through a farm in with Emerald Energy (now Sinochem) earned a 10% working interest in the contract through the drilling of the Capella 1 discovery well in July 2008. Throughout 2008 and 2009, the company participated in the drilling of six wells into the discovery.
The company also has a 100% operated working interest in two offsetting exploration contracts awarded directly to it in 2009, and holds over 1.2 million net exploration acres directly offsetting the Capella discovery.
The Romero A1 well is located approximately 4km to the northeast of the Capella E8 well, the northeastern most producing well in the field. Romero A1 is designed as a vertical well that is planned to be drilled to economic basement at a depth of approximately 3,250ft measured depth.
The objective of the well is to test the productive Mirador reservoirs at the structurally highest position in the field. It is anticipated that the well will take approximately three weeks to drill and complete, after which the reservoirs will be flow tested with a progressive cavity pump, as is the current practice within the main producing part of the field.
The drilling program includes extensive coring of the reservoir intervals. Upon completion of the drilling and testing program, the rig will be mobilized to the Capella F-10H location to commence drilling of the first horizontal well in the field.
Canacol commenced the acquisition of the 185sqkm seismic program in March 2010. The contract for the 3D seismic program was awarded to Petroseismic, with operations commencing in March 2010. It is anticipated that acquisition of the 3D seismic program will be completed by June 2010. The seismic will be used to optimize the future development drilling program for the field.
