Petro-Victory Energy Corp. (TSX-V:VRY) has confirmed production flows from pay zones in the SJ-06 well, in the São João field, Brazil, following a workover programme.
The well programme aims to enhance production volumes from the well, by opening up additional reservoir.
Today, in a statement, the company noted that following the completion of the workover the well now has some 15.2 meters of oil pay zones in the Tutoia formation.
The workover saw the successful re-entry and perforation of 8.3 meters in two zones, leading to significant oil and associated gas shows, and, those zones are now being tested.
Initial testing of the well measured a rate of 930 barrels of oil per day, over a three-hour period. The rate averaged 228 barrels over the initial 35-hour test phase. The company noted that the oil is light crude, with an API gravity of 40.9 degrees.
“The team continues to monitor well pressure, recovery of the completion fluid, and associated gas levels,” the company said in a statement.
“Initial production results are not necessarily indicative of long-term performance or ultimate recovery.”
The well has total proved reserves of 69,000 barrels of oil and proved plus probable reserves of 134,000 barrels.
São João is wholly owned by the company. The field is located in the Barreirinhas Basin in Maranhão.