HRT concludes drillstem test in well 1-HRT-8-AM in the Solimões Basin
Friday, Aug 17, 2012RIO DE JANEIRO, Brazil, Aug. 16, 2012 /CNW/ - HRT Participações em Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP) announces that its subsidiary HRT O&G Exploração e Produção de Petróleo Ltda. ("HRT O&G") has concluded the drillstem test run in the well 1-HRT-8-AM, in the block SOL-T-169 in the Solimões Basin, which is jointly exploring with TNK-Brasil.
The test, performed in the Jurua formation sandstone reservoir from 3,122 to 3,128 meters, was successfully concluded on August 15 and showed good flow characteristics through a vertical well, reaching a production of 9.25 million cubic feet (262 thousand cubic meters) of natural gas per day with choke of 40/64". The tested prospect is part of a northeast-southwest structure, around 40 km2 in area and can hold from 170 to 290 Bcf (4.9 to 8.2 billion cubic meters) of recoverable natural gas (mean value).
"This well confirms the gas trend to the east of the Juruá Field, in which
previous gas discoveries were made in wells 1-HRT-5-AM and 1-HRT-2-AM. HRT believes that this structure has a potential flow rate up to 53 million cubic feet (1.5 million cubic meters) of natural gas per day when it reaches its development phase. This discovery is another important step in the assessment of the gas potential of the Tefe cluster in the Solimões Basin," mentioned Milton Franke, Chief Executive Officer of HRT O&G.
Jointly with previous discoveries made in this sub-region of the Basin, the well 1-HRT-8-AM will be part of an evaluation plan to be submitted to ANP. HRT is exploring the Solimões Basin in partnership with TNK-Brasil, a subsidiary of TNK-BP.
For further information, please contact HRT`s Investor Relations Department.
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HRT recommends that readers refer to the prospective resources report in its entirety as it details the process for determining the prospective resources estimates, the assumptions underpinning the modeling, and defines all of the technical terms used. The prospective resources estimates described in the report and in this release are "undiscovered resources" as defined in the Canadian Oil and Gas Evaluation ("COGE") Handbook. Undiscovered resources are defined as those quantities of oil and gas estimates on a given date to be contained in accumulations yet to be discovered. The estimate of the potentially recoverable portions of undiscovered resources is classified as prospective resources.
Prospective resources are defined as those quantities of oil and gas
estimated on a given date to be potentially recoverable from undiscovered accumulations.
SOURCE HRT Participações em Petróleo S.A.
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