Project Profile
Location: South Peten Basin, Guatemala
Production: 150 bopd, 40º API oil
Drilling Depth: 1,372m
Start-up Year: -
In July 2012, Citation Resources acquired an interest in two oil and gas development and exploration blocks in Guatemala through a farm-in right to gain a 70% interest in Latin American Resources (LAR) which currently holds the two blocks.
Block 63-9 is located in the South Peten Basin in Guatemala. The Project has an established reserve base with significant exploration upside potential. The Project had significant previous exploration and development with 2D seismic and prior wells. Previous operators prioritised their focus on other oil and gas opportunities in Latin America, leaving LAR to acquire the blocks and execute the previously developed production and exploration programs. In the Block 63-9 the main formation is the Las Casas. LAR planned to re-enter and work-over of the Las Casas 3X. The lower zone previously tested 150 bopd 40º API oil and approx 100 barrels of water per day. Target perforation and testing of the higher zone with plan to co-mingle with lower zone and put on production in 1H 2013. The structure is on trend and adjacent to Pacific Rubiales block.
Operators:
Latin American Resources (a subsidiary of Citation Resources Limited): Operator with 100% interest