President Energy says that the two workovers at the Dos Puntitos Field, Puesto Guardian Concession, have now been completed on budget.

The results of the two workovers and stimulation pilot have exceeded management expectations with production of the two previously shut in wells now at an aggregate rate of approximately 120 bopd after a higher rate of initial flush production. This compares with the pre-workover mid-case projection of 88 bopd.

As a result of this success, President is now planning a follow-up stimulation programme of 5 wells to commence as soon as possible in Q1 2016 with further follow-on well candidates possible thereafter.

Tags: President Energy