Welcome To The Argenta Oil & Gas HUB On AGORACOM

Free
Message: Engages Drilling Rig Contractor to Drill Loma El Divisadero

Engages Drilling Rig Contractor to Drill Loma El Divisadero

posted on Apr 21, 2009 04:09AM
April 21, 2009
Argenta Engages Drilling Rig Contractor to Drill Loma El Divisadero
TORONTO, ONTARIO--(Marketwire - April 21, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Argenta Oil & Gas Inc. ("Argenta") (TSX VENTURE:AZA) is pleased to announce that it has finalized the drilling contracts with Ensign Argentina SA to provide the rig operations to drill and complete the appraisal program in the Company's Loma El Divisadero Block (80% WI) located in the Neuquen Basin, Argentina. A total of two wells will be funded by joint venture partner Unitec Energy SA and it is anticipated that the first well in the program will spud by the end of April to a total depth of 3,750 feet. The goal of the appraisal program is to define the development program (oil, gas or both) from the Chorreado Member (Huitrin Formation).

Ricardo Pescara, Vice President of Operations commented:

"Each well will take approximately 16 days to drill, complete and test. Location and roads are being finalized and will be ready to spud the first well by the last week of April."

Argenta Oil & Gas is a Canadian energy resource company with oil and gas assets in the Neuquen Basin of Argentina and in Colombia's Lower Magdalena Basin. Argenta owns and operates all of its assets. For further information on Argenta Oil & Gas, please visit the Company's website at www.argentaoilandgas.com.
Share
New Message
Please login to post a reply