Canacol Energy, an international oil and gas firm in Canada, has abandoned and blocked the Tamarin 1 exploration well, which is the primary well out of five exploration wells, scheduled to be drilled at the Caguan–Putumayo basin in Colombia.
Under the Tamarin Exploration and Production (E&P) agreement, the company drilled the Tamarin 1 exploration well, in which the company has a 100% working interest. Additionally, Canacol holds a 100% operated working interest in Sangretoro and the Cedrela E&P contracts, which are the two offsetting agreements, under which the company has planned to drill four further exploration wells before the middle of the year, 2012.
The company spudded this Tamarin 1 exploration well and attained 2,774 ft of total depth during October, 2011 without any incident. It has identified the initial Mirador sandstone reservoir as expected with porous sandstone of around 60 ft, but was damped with negligible showing of oil. At present, this exploration well is being closed and dumped.
Canacol Energy has scheduled the drilling of two exploration wells, based on the company’s Cedrela E&P agreement, after which two more exploration wells will be drilled under the Sangretoro E&P agreement, during the middle of the year 2012.
Source: http://www.canacolenergy.com/