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Crown Point Energy announces Tierra del Fuego drilling contract in Argentina

CALGARY -- Crown Point Energy has announced a drilling contract has been signed with San Antonio International to provide a drilling rig for the initial ten well drilling program in Tierra del Fuego.

The drilling rig is expected to arrive in Tierra del Fuego in March with drilling operations on the Las Violetas concession expected to commence in early April. The term of the contract is one year with provisions for extending the term.

The initial ten-well program on the Las Violetas concession will consist of eight development wells in the Los Flamencos gas pool and two exploration wells, one on the Puesto Quince prospect and another near the southern San Luis natural gas pool. All of the drilling locations have been fully imaged with 3D seismic. The Puesto Quince prospect lies up dip of the Los Flamencos and Los Patos producing pools and is adjacent to the Rio Chico gas pool.

The feature has a seismically mapped areal extent of approximately 50 sq km. The San Luis exploration prospect has been defined with 3D seismic and is located on a separate fault block near the San Luis gas pool which to date has produced approximately 32 Bcf of natural gas.

02/28/2014

 

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