(MENAFN- ProactiveInvestors - Australia) Citation Resources (ASX: CTR) is arranging to use an electric submersible pump to help establish the commercial potential of two perforated zones at the Atzam-4 well in Guatemala.
The ESP will allow the joint venture to fast track clean up operations on the Lower C17/ Upper C18 carbonate sections.
Atzam-4 is expected to flow between 300 barrels and 400 barrels per day with a 85% to 90% oil cut from the two sections.
The ESP is currently being sourced from the United States and the Operator expects that it should be landed on site and operational in 2-3 weeks.
Encouragingly, recent swabbing of the perforated Upper C18 section has resulted in the recovery of high quality oil along with continued pressure build ups prior to commencement of acid wash operations.
The C13 and C14 carbonates that had produced unexpectedly strong, oil shows during the drilling are likely to be the target of the upcoming Atzam-5 well if they are not tested in Atzam-4.
These sections are the main producing zones in the nearby Rubelsanto Field.
Range Resources (ASX: RRS) is acquiring a 19.9% strategic stake in Citation, which had in July 2012 executed an agreement to acquire a 70% interest in Latin American Resources â€" the operator of the Atzam and Tortugas fields.
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