According to the company, a well is scheduled to be drilled within the next two months to a depth of 6000ft, based on 3D seismic evaluation.
The carried working interest provides the company an interest in the well without the cost for the development of the well.
The primary objective of the well is a prolific gas sand in the Yegua formation, Riverdale said.
The geological evaluation and historical production of the Yegua sands indicate that the well could have the capability of producing two billion cubic feet of gas with 12,000 barrels of condensate.
