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Echo Energy greenlights test at Tapi Aike as drilling completes with encouraging early findings

The Campo La Mata exploration well encountered six zones of potential interest. Well completion and testing operations will now take place.

Echo Energy PLC - Echo Energy greenlights test at Tapi Aike as drilling completes with encouraging early findings

Echo Energy PLC (LON:ECHO) told investors that the drill programme for the Campo La Mata exploration well (CLMx-1), at the Tapi Aike project, has completed.

In a statement, Echo said the well was drilled down to 2,513 metres and wireline logging has taken place. Drilling data and initial analysis has encouraged the exploration partners to take the next steps to move the well through completion and testing.

It noted that the ‘Mag 60’ or ‘Lobe G’ prospect, the well’s secondary target, was reached at 1,977 metres and the well encountered two fine-grained sandstones that have been identified to coincide with elevated gas shows.

READ: Echo Energy moves quickly with Santa Cruz Sur

The primary target, known as ‘Mag 20’ or ‘Lobe C’, was encountered at 2,181 metres and it coincided with elevated gas shows. Another secondary target, known as ‘D3’ or ‘Anita’, was found at 2,265 metres and elevated gas shows were also observed during drilling.

In all, Echo noted that the well encountered six zones of potential interest.

It is now anticipated that the well will be completed with a 5 ½ inch casing, and, thereafter, perforation and initial inflow testing will then be undertaken.

Rigless hydraulic stimulation will also be conducted on the well after the inflow tests have been completed.

At the same time, preparations will begin and the  Petreven H-205 rig will mobilise to the Palermo Aike concession of the Santa Cruz Sur project, where the next well is slated to spud before the end of December.

Quick facts: Echo Energy PLC

Price: 2.3 GBX

AIM:ECHO
Market: AIM
Market Cap: £16.37 m
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