10:25 AM EST - Parex Resources Inc. : Reports that with testing completed, it has abandoned the Chirimoya exploration well at VIM-43 (100% W.I.). As previously announced, Parex reached the Chirimoya exploration wells’ target depth of approximately 17,500 feet. Following open hole evaluation, including logging operations, the Company made the decision to case and test the well. All three prospective zones were evaluated and confirmed that the potential reservoirs had no economic hydrocarbons.The Chirimoya exploration well was the first prospect in a three well 2023 big ‘E’, high-impact exploration program. The Northern Llanos Arauca-8 well at Arauca (50% W.I.) and the Llanos Foothills Arantes-1 well at LLA-122 (50% W.I.) are expected to be spud in Q4 2023. Parex Resources Inc.
shares T.PXT are trading down $1.90 at $27.11.
