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Pacific Rubiales Energy Announces New Oil Discovery At Its Quifa-7 Well In Llanos Basin, Colombia

Published: 08-Sep-2009

Pacific Rubiales Energy Corp. has reported a new oil discovery at its Quifa-7 well, in prospect H within the Quifa block, Llanos basin. The Quifa-7 exploratory well found the top of the reservoir, the Carbonera basal sands, at 2,857 feet measured depth (MD), or 2,206 feet true vertical depth below sea level (TVDSS) and the oil water contact (OWC) at 2,896 feet MD or 2,245 feet TVDSS for a total oil column of 39 feet from the OWC to the crest of the structure.

Preliminary petrophysical evaluation of the data from the well indicates a net pay zone of 24 feet and 30% average porosity. This result, along with the pressure and production regime measured at the Quifa-5 and Quifa-8 wells recently drilled at prospect E, suggests that prospects H and E are possibly connected as a single oil reservoir. The company is now planning to test the well and to complete it as a vertical oil producer.

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