Brownstone Ventures Inc is pleased to provide an update received from the operator, Petrolifera Petroleum Limited, with respect to its 253,000 acre (approximately 1,025 square kilometers) Vaca Mahuida Block in the province of Rio Negro, Argentina.
Petrolifera has advised that they are presently testing an exploratory well on Vaca Mahuida which encountered live 29 degree API oil during drilling and initial swab tests. A number of hydraulic fracs will be conducted over several intervals to determine well productivity from identified shallow Centenario sandstone reservoirs at around 800 meters subsurface. Petrolifera further advised that the Centenario was the primary objective of this well, labeled VM 2007. Should this well prove commercial, Petrolifera anticipates early production with good follow-up potential. Petrolifera and Brownstone also have another well, VM 2001, standing cased awaiting testing on the Vaca Mahuida block. Brownstone is incurring 50% of the costs of the Vaca Mahuida project to earn its 25% working interest.
