Petroamerica Oil Corp. report the start of the appraisal drilling program on the Los Ocarros Block in the Llanos Basin of Colombia with the spud of the Las Maracas-3 appraisal well on June 28, 2012. The Las Maracas-3 well will appraise the Mirador discovery made by the Las Maracas-2 Sidetrack well, announced August 2011 and on production since April 23, 2012.

Additionally, the Las Maracas-3 well has an important exploration component targeting the deeper Une and Gacheta reservoirs that produce in other fields in the vicinity. The Las Maracas-3 well will be drilled to a total depth of 12,784 feet (measured depth) by the Tuscany 119 drilling rig and is expected to reach its total depth by mid-July, 2012.

The Las Maracas-4 appraisal well will be drilled immediately after the completion of the Las Maracas-3 well, and will further assess the Mirador formation as well as any exploration discoveries made by the Las Maracas-3 well.

Tags: Petroamerica Oil Corp