The president of Far Vista Petroleum Corp is ecstatic to announce that it has discovered a huge oil deposit. It had previously announced that it was informed by Lukoil that a discovery of a sizeable deposit of oil at the boundary of its territory with that of Far Vista and that this oil is common to both areas. This was a result of the drilling of well no 15 on its Lekker field .

At a depth of 3790 meters the well has opened a high pressure oil saturated deposit. Considering the close proximity of the Lukoil's Lekker field with Far Vista's Chedty field and the fact that they both have a common geomorphology of Lower Devonian and Silurian deposits, the presence of a hydrocarbonic mine of a size no less that 36 square kilometers is highly probable.

The report states that no less than 5 hydrocarbonic mines can be predicted with geological reserves up to 10 million tons. An expert committee advised the Board of Far Vista about this high probability of oil reserves in exploring at least 4 new horizons from the Lower Permian to the Lower Devonian discharges in the south-western part of Chedty field.

Tags: Far Vista Petroleum Corp