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GeoPark uncovers further oil pay at Colombia's onshore Llanos Basin

18th February 2015

GeoPark Limited has announced a new oil field discovery following the drilling of exploration well Tilo 1, located on the Llanos 34 Block in Colombia

GeoPark Limited has announced a new oil field discovery following the drilling of exploration well Tilo 1, located on the Llanos 34 Block in Colombia
Further technical evaluation will also be undertaken to determine if the Tilo field is potentially a northeast extension of the larger Tigana field. Source: GeoPark

The Tilo prospect was defined as a structural trap with three-way dip closure on the down-thrown side of a normal fault – targeting the two principal productive reservoirs of the Llanos 34 Block; Guadalupe (main target) and Mirador (secondary target) sandstones.

"Congratulations to our team who continue to find oil in our Colombian Llanos 34 Block – with Tilo being our sixth oil field discovery,” said James F. Park, GeoPark chief executive officer. “The Llanos 34 Block – particularly the Tigana and Tua oil fields – represents attractive low risk, low cost and high netback fields which provide an important and secure production base during periods of oil price volatility."

GeoPark operates and has a 45 per cent working interest in the Llanos 34 Block.

GeoPark drilled and completed the Tilo 1 exploratory well to a total depth of 11,293 feet. A test conducted with an electrical submersible pump in the Guadalupe formation, at approximately 10,707 feet, resulted in a production rate of approximately 1,000 barrels of oil per day of 14.2 degree API, with approximately 10 per cent water cut.

Further production history is required to determine stabilised flow rates of the well and the extent of the field. Further technical evaluation will also be undertaken to determine if the Tilo field is potentially a northeast extension of the larger Tigana field.

 

 

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