PetroNova Inc. provided an update on its Guasco-1 exploratory well located on the CPO-13 Block (in which PetroNova has 20 percent working interest) in Colombia's Llanos Basin.

The Guasco-1 exploration well was spud on January 8, 2013 and reached a total depth of 3,114 feet on January 15, 2013. The well found poor sand development in the Upper Carbonera Basal section, which was the primary target; however, mud log and petrophysical interpretation indicated a potential prospective zone in the C5 sands. The 2,711 to 2,717 foot interval was perforated and tested, and yielded 100 per cent basic sediment and water. The Operator is presently abandoning the well.

PetroNova will continue its drilling campaign and plans to move the rig to the Cayabana prospect in CPO-07.

Tags: PetroNova Inc.