HRT Announces Discovery in the Solimoes Basin

Source: www.gulfoilandgas.com 8/20/2012, Location: South America

HRT Participaçoes em Petroleo S.A announces that its subsidiary HRT O&G Exploraçao e Produçao de Petroleo Ltda. ("HRT O&G") submitted to the National Agency of Petroleum, Natural Gas and Biofuels (Agência Nacional do Petroleo, Gas Natural e Biocombustiveis - ANP), Notice of Discovery of gas in the well 1-HRT-9-AM.

Based on hydrocarbon shows in cuttings, mud logging gas detection and wire line logging, three gas-bearing reservoir intervals were observed in the Jurua Formation, between 2,740 and 2,800 meters depth, with approximately 30 meters net pay.

"This well absolutely has the best reservoir permo-porosity characteristics and net pay observed among previous HRT`s drillings", mentioned Milton Franke, Chief Executive Officer of HRT O&G.

Well 1-HRT-9-AM once more confirms the gas trend extension to the southwest, thus opening a new exploratory potential in the area of block SOL-T-191. This discovery, together with the three ones already made by wells 1-HRT-2-AM, 1-HRT-5-AM and 1-HRT-8-AM confirm the large gas potential of the Tefé Cluster and represent an important advance in HRT’s objective to monetize the natural gas of the Solimoes Basin.


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