Andes Energia has struck oil in Argentina.
The opertator today confirmed four wells had been drilled and completed on the Chachahuen block in the Province of Mendoza, Argentina.
The Cerro Redondo x-1 well encountered six metres of net oil pay in the sandstone of the Rayoso formation.
Two of the other wells encountered gas plays.
Chairman Nicolas Mallo Huergo said: “The new oil discovery at the “CoRe x-1”, untapped a new reservoir to be appraised and developed, in the same way the presence of gas identified in the deeper horizons of wells “LaO x-1”and “Re Co x-1” opens a new exploratory frontier, which reaffirms the large scale hydrocarbon potential of Chachahuen.”
An appraisal program and extensive follow-up exploration activities will now be considered targeting cycle 1 of the Rayoso formation.