Maurel et Prom : COLOMBIA - Positive Results in stratigraphic well CPO17 - EST11
(Thomson Reuters ONE via COMTEX) --
Paris, 14 November 2012
Positive Results in Stratigraphic Well CPO17- EST11
Core and well log information from Stratigraphic well EST-11 drilled at 3,405' TD on the Godric prospect in CPO17 license (MP Colombia 50%, Hocol operator 50%) put in evidence oil saturated intervals in Mirador Formation.
Laboratory analysis from an oil sample recovered from shakers was estimated in 19 API gravity oil. Oil gravity based on fluid pressure gradient plots defines a range between 16 to 18 API. In any case these preliminary data indicates lighter oil if compared with Dorcas (C7 Fm) and Merlin (Basal sandstone Fm) discoveries. Petrophysical interpretation defined a total of 56 feet of saturated sandstone intervals, the lowermost 12 feet interval could corresponds to a transition zone.
Size of this accumulation is under evaluation, however preliminary resources estimation shows 86 MMBOE as P50 (50% probability) with a total range from 35 to 250 MMBOE. This evaluation must be confirmed by an exploratory well to be drilled and tested in the coming weeks
Maurel & Prom, through MP Colombia, holds 25% working interest in CPO-17.
For more information: www.maureletprom.fr
Phone : +33 (0)1 42 72 46 76
This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors such as, fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.
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Source: Maurel et Prom via Thomson Reuters ONE
GOD_14NOV12_ENG.pdf - http://hugin.info/155421/R/1658086/536461.pdf
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