12:07 PM EST - Frontera Energy Corporation : Announced positive drilling results from the Acorazado-1 well located on the 100%-owned and operated Llanos 25 block onshore Colombia. As a result, the well is being cased in preparation for testing.The Acorazado-1 exploration well reached a total measured depth of 15,470 feet into the target formation where we recorded hydrocarbon shows in a Mirador Reservoir section with 356 feet of gross thickness. The well was drilled ahead of schedule and under budget. The pre-drill cost estimate to drill the well was $35-50 million. The company will now run and cement a liner in preparation for testing, bringing the well cost to date to $40 million, excluding future testing costs. Frontera Energy Corporation
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