Canada-based PetroMagdalena Energy Corporation said that it expects to see an increase in oil shows at the Copa field in the Llanos Basin, located in Columbia.
The Copa 4 development well in the Cubiro Block was drilled to a total depth of 6,240ft in early April 2012, in the top of the Gachetá Formation.
The petrophysical evaluation of the Copa 4 development well, in the Copa field, indicated potential hydrocarbon pays of 7ft in the C7, 17ft in C5, 13ft in C5, and 11ft in C3 sandstones.
The sandstones, all productive in the prospect, were found to be 15 to 20ft higher than predicted in the mapping programme conducted, based on the seismic interpretation.
PetroMagdalena Energy Corporation's CEO Luciano Biondi said: "We are pleased to announce the continuation of our successful exploratory and development drilling programme. The Copa 4 development well at Cubiro has extended the mapped reservoir area with higher formation tops than predicted and with positive tests of the zones identified petrophysically, this could lead to a measurable increase in oil reserves for the Copa field."
With positive testing of the hydrocarbon potential in Copa 4, the oil reservoir in the Copa field will be extended to the west, with an expected upward revision of the reserves for all three producing reservoir units in the Copa field.
Meanwhile, the Alondra-1ST exploration well on the Cubiro Block reached TD at 6291ft in the Carbonera C8 Formation and was plugged and abandoned.
The well is located in Polygon B of the Cubiro Block, in which PetroMagdalena holds a 70% stake.