PetroMagdalena suspends Yaraqui-1X exploratory well
TORONTO, Jan. 9, 2012 /CNW/ - PetroMagdalena Energy Corp. (TSXV: PMD) announced today that the operator has decided to suspend the Yaraqui-1X well, located in the Topoyaco block, as tests over indicated log pays resulted in uneconomic heavy oil flows.
The Company has a 50% beneficial working interest in Topoyaco and Pacific Rubiales Energy Corp. holds the remaining 50% beneficial working interest and is the operator for this block, in both cases subject to ANH approval.
PetroMagdalena is a Canadian-based oil and gas exploration and production company, with working interests in 19 properties in five basins in Colombia. Further information can be obtained by visiting our website at www.petromagdalena.com
It's all happened before and it will all happen again. Might as well profit from it.
