Black Rock Oil & Gas Plc - Acacia Este 2 drilling update
Posted by Aquila Financial on Monday, January 14, 2008
Location
Colombia
Full Details
On 28 December 2007 Black Rock Oil & Gas Plc (“Black Rock” or the “Company”), stock code: BLR, the AIM-traded oil and gas exploration and production company, announced that the Acacia Este 2 appraisal well in the Las Quinchas Association Contract in Colombia had been spudded by its joint venture operator, Kappa Resources Colombia Limited ("Kappa") on 21 December 2007 and that drilling operations were underway.
Acacia Este 2 was drilled 500 metres north of Acacia Este 1 to a total depth of 3752 feet. Oil shows were encountered over more than one hundred feet whist drilling the target Tertiary-aged Lower Mugrosa Formation. The well reached basement at 3720 feet.
Preliminary interpretation of the logs run at total depth indicates the potential for oil in a number of zones. There are differences in the nature and thickness of the reservoir sands in Acacia Este 2 compared to Acacia Este 1 that make correlation between the wells more complex without further seismic data. These differences are not unusual with reservoir sand deposits formed in a fluvial environment and the significance of the differences between the well log responses will be assessed in the light of the test results. The apparent absence in Acacia Este 2 of the higher performing sands recorded in Acacia Este 1 may impact the flow rates recorded in the Acacia Este 2 test programme.
Preparation for testing multiple zones in Acacia Este 2 has now commenced in order to assess the well’s potential productivity. Results of the testing should be known within the next 20 days.
Dr John Cubitt, Managing Director of Black Rock Oil & Gas Plc, commented:
“The results of the drilling of the first Acacia Este appraisal well suggest that we have encountered heavy oil in a number of zones but we recognise that it is not straightforward to relate the well logs of Acacia Este 2 to those of the discovery well. Black Rock therefore considers Acacia Este to be a more complicated field than first anticipated last year which supports our earlier decision to undertake the acquisition of additional seismic data before the next appraisal well.”
Qualified Person
Dr John Cubitt (a Director of the Company) has been involved in the oil and gas production industry for more than 26 years. Dr John Cubitt is a registered Chartered Geologist (CGeol) and has a BSc and PhD in geology. He has compiled, read and approved the technical disclosure as it relates to Black Rock in this regulatory announcement.
For further information, please contact:
Black Rock Oil & Gas Plc Tel: 01189 001350
Dr John Cubitt, Managing Director www.blackrockoil.com
Beaumont Cornish Limited Tel: 0207 628 3396
Michael Cornish
Aquila Financial Limited Tel: 0207 202 2600
Peter Reilly
Notes to Editors:
Black Rock Oil & Gas Plc, headquartered in the UK, is an AIM-traded (AIM:BLR) exploration and production company with licences in the Southern Gas Basin of the UK North Sea and the Middle Magdalena Basin, onshore Colombia.
Colombia:
Black Rock has Joint Ventures with Kappa Resources Colombia Limited (Kappa) in the Las Quinchas Association Contract and the Alhucema E&P Contract, both situated in the prolific hydrocarbon basin of the Middle Magdalena Valley.
Operated by Kappa, and following completion of its farm-in obligations, Black Rock’s 50% interest in the Las Quinchas Association Contract is subject only to approval of the transfer of the interest by the state oil company, Ecopetrol.
The Alhucema Block, immediately to the North of the Las Quinchas Block contains a number of prospects and leads and one well is planned on the Arrinconada prospect later in 2008.
United Kingdom:
Black Rock has a 15% interest in the 49/8c Block situated in the Southern Gas Basin of the North Sea.
Block 49/8c contains the Monterey Gas discovery and the Stinson prospect.
www.blackrockoil.com
Category
Company News Release