Petrobras achieves an equipment constrained production test oil flow rate of 6142 stb/d through a 5/8 inch choke from the Maruja-1 Exploration Well during the clean-up flow period. Karoon advises that production testing of the Maruja-1 exploration well is complete. Since the last report on 17 November 2010, the well was drilled to a total depth of 3789 metres and an extended well test was conducted over the interval 2201.5 and 2210 metres. During the 24 hour main flow period, the high porosity Oligocene sandstone reservoir achieved stabilised flow rates of 4675 stb/d of oil and 0.8 MMscf/d of gas through a 1/2 choke, with a flowing wellhead pressure of 1050 psia. An oil gravity of 38 API was measured. Well data from the Maruja-1 well will be used for potential appraisal drilling planning. Equity Interests
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KAR Price at posting:
$7.81 Sentiment: None Disclosure: Held
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