This appears related to GTL in Tierra del Fuego and Argentina's commitment to that project for oil and gas.
Oct 09, 2008 02:00 ETAntrim Energy Tests High-Rate Gas Well in Tierra del Fuego, Argentina
FOR: ANTRIM ENERGY INC.
TSX SYMBOL: AEN AIM SYMBOL: AEY
October 9, 2008
Antrim Energy Tests High-Rate Gas Well in Tierra del Fuego, Argentina
CALGARY, ALBERTA--(Marketwire - Oct. 9, 2008) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.
Antrim Energy Inc. ("Antrim") (TSX:AEN) (AIM:AEY), today announced the successful test of well LF-1010 in the Los Flamencos gas field, Tierra del Fuego, Argentina. Stabilized gas rates in excess of 10 million cubic feet per day (mmcf/d) were recorded from the Springhill reservoir. Pressures were consistent with original reservoir pressure. Antrim's working interest in the Tierra del Fuego concession is 25.78%.
LF-1010 was drilled in July 2008, encountering 16 metres of gas pay in a high-quality reservoir, with no oil or water leg. LF-1010 extended the Los Flamencos pool to the west of the highly successful LF-1005 well, which tested at 8 mmcf/d. Wells LF-1011, drilled in June, and LF-1012, drilled in September and which further extended the Los Flamencos pool to the west, are scheduled for testing next.
As announced in September, mainland gas deliveries from Tierra del Fuego have commenced via the San Martin pipeline. Gas from the eastern area of Los Flamencos has been brought on stream, and gathering system extensions are underway to tie-in wells LF-1005, LF-1010, LF-1011 and LF-1012 in the western area of the field. Total gas delivery from Antrim's Tierra del Fuego concession is expected to rise from 20 mmcf/d in mid-2008 to 40 mmcf/d by mid-2009.
Antrim CEO Stephen Greer commented, "We are very pleased to confirm the gas deliverability of the western Los Flamencos pool, and look forward to continued success in our drilling program in Tierra del Fuego."
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