NG Energy International Corp. Announces Update in Magico 1x Well with the Testing from Three Zones of 15 MMSCFD production and an Estimated Absolute Open Flow above 50 MMSCFD Sinu-9, Cordoba, Colombia
The Companies report the following results from the two tests: DST-1 (3,694' 3,724' MD of a net Pay of 40'). Based on the results of these tests, the Companies decided to complete the well with a 3 ½" tubing size and test across all three zones on a comingled completion. The results of this test are as follows: Comingled Test (3,572' 3,582' MD, 3,632' 3,640' MD, 3,694' 3,724' MD of a Net Pay of 76'). Based on these results the Companies concluded the following: the well tested over 15 MMSCD of dry gas with no water on a comingled production completion from the three zones of the Cienaga de Oro (CDO) sandstone formation between 3,572' and 3,724' MD (Measured Depth) with a combined net pay of 76'. Other identified prospective zones will be tested in the future. Once all analysis has been completed, the Companies, during the next months, will continue with the spudding of the Brujo exploration well in the same block. This well has already received approval from the ANH.