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GeoPark announces strong oil flow from the Jacana five appraisal well in the Jacana oil field in the Llanos 34 Block in Colombia.

M2 EQUITYBITES-August 23, 2016-GeoPark announces strong oil flow from the Jacana five appraisal well in the Jacana oil field in the Llanos 34 Block in Colombia

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Oil and gas company GeoPark (NYSE:GPRK) said on Monday that it has received strong test results from the Jacana five appraisal well in a total depth of 11,467 feet in the Jacana oil field in the Llanos 34 Block in Colombia, with a 45% working interest.

The company added that a test conducted with an electric submersible pump in the Guadalupe formation that resulted in a production rate of approximately 2,500 barrels of oil per day of 15.5 degrees API, with less than 1% water cut, through a choke of 41/64 mm and wellhead pressure of 90 pounds per square inch.

In conjunction, additional production history is required to determine stabilized flow rates of the Jacana five appraisal well. Surface facilities are in place and the well is already in production.

According to the company, the Jacana five well was drilled 780 metres north of the Jacana three appraisal well further down dip to a bottom-hole location below the previous lowest-known oil. It encountered oil in the Guadalupe formation and did not encounter the oil-water contact. The successful Jacana five well further extends the limits of the field.

Following completion of the testing of the Jacana five well, the drilling rig will move north-east along the trend to the Tigana field, followed by other locations, to continue the programme of five more wells in the Llanos 34 Block before the end of the year, concluded the company.

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Publication:M2 EquityBites (EQB)
Date:Aug 23, 2016
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