09:53 AM EST - Petrominerales Ltd. : provided an update on its operational activities in Colombia and Peru. The company has four wells active in the Llanos Basin region. On Block 31, Petrominerals recently reported that logs from its Jamuco-1 exploration well indicate 52 feet of potential net oil pay in the Guadalupe, Lower Sand 1 and 2 formations. The company is currently conducting a multi-zone testing program and expects results later in January. In addition, its Iboga-1 well reached total depth at 14,352 feet on January 3rd. Well logs indicate 42 feet of potential net pay in the Guadalupe and Lower Sand 2 formations and the well is being cased for testing. On the Corcel Block, the company commenced drilling operations on itsTente-1 exploration prospect on December 27th, and expects to have drilling results from this well in March. Petrominerales Ltd.
shares T.PMG are trading up $0.26 at $17.29.
