Americas Petrogas says Argentina well shows "significant" oil discovery

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articlenopicBy CanadianBusiness.com

Americas Petrogas and venture partner Gran Tierra Energy have made a "significant discovery of oil" in the first of three exploration wells on the Rinconada Norte block in the Neuquen Basin of Argentina.

Americas Petrogas said the RN x-1004 well flowed a test rate of approximately 944 barrels per day of oil and 13,360 cubic metres per day of gas (79 barrels of oil equivalent) for a total of about 1,023 barrels of oil equivalent per day from two intervals tested separately in the Precuyo formation, the company said in a statement Monday.

The oil is 29.6 degrees API — sweet light crude similar to crude oil produced from the equivalent formation in Americas Petrogas' Medanito Sur block.

The company said the well has been completed and the service rig is now moving on to the next...Read Full Article

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