Emerald Energy Ltd said on
Thursday its well no.6 in the Capella field in Colombia
encountered net potential hydrocarbon level much higher than
the previously recorded levels in the field.
The company said it encountered net potential hydrocarbon
pay of 80 feet in the upper Mirador sand compared with the
previously recorded maximum net thickness of 23 feet
encountered in the Capella No.2 well.
The Capella field produced oil at an average rate of 255
barrels per day (bpd) during the second quarter and 284 bpd
during July, with production levels remaining limited by market
constraints, the Syria and Colombia-focussed oil and gas
explorer said.
The company also said it started drilling operations on
Capella No.SH1, the first of two slim-hole wells planned to be
drilled in the Capella field to further delineate the extent of
the upper Mirador sand.
Slim-hole wells are designed to recover continuous core
samples through the target formations and may be logged using
special slim-hole logging tools, but cannot be utilised as
production wells. They also reduces cost.
Emerald shares were down 0.5 pence at 738.5 pence by 0723
GMT on the London Stock Exchange. (Reuters)