morning guys,flow testing just a formality after reading this ,declaration of commerciality being done for brazilian government now,wonder why,lol, The Gavea joint venture has declared the Paca-2 well on Block 330 in Brazil’s onshore Sergipe Alagoas basin as an oil discovery and suspended the well as a potential future producer, project partner Eromanga Hydrocarbons said.
Eromanga said Brazilian regulators had been informed of the discovery and the venture was readying a declaration of commerciality. The well recorded oil shows over a total of 232 metres in three intervals, including the deeper Serraria formation. The company said last week oil shows had been recorded in the Morro de Chavez member and Panedo formation before drilling deeper. The well has now been sunk to total depth of 550 metres, and electric wireline logs and initial formation testing identified up to three zones for further production testing. Source:
ERH Price at posting:
19.6¢ Sentiment: ST Buy Disclosure: Held
