Apco Continues Exploration Efforts in Colombia
TULSA, Okla. -- April 22, 2013
Apco Oil and Gas International Inc. (NASDAQ:APAGF) participated in the
drilling of two exploration wells in Colombia’s Llanos 32 block during the
first quarter of 2013. Apco participates in the block with a 20 percent
The first well, the Bandola #1, is located near Apco’s previous Maniceno
discovery and reached a total depth of 11,594 feet. From the Mirador
formation, the well flow tested an average rate of 3,094 gross barrels of oil
per day over a nine-hour period with a water cut of less than 1 percent. The
well began production in early April and is currently producing at a natural
flow rate of 2,600 gross bopd.
The second well, the Llanita #1, is located on a seismically identified
prospect in the southern half of the block. It was drilled to a total depth of
11,100 feet targeting the Mirador formation. After evaluating the well’s
electric logs, Apco decided not to participate in casing operations to further
investigate the well.
Apco now plans to test its Turpiales #1 exploration well before the end of
April. Log interpretations made at the time of drilling in late 2012 indicate
the presence of oil requiring testing.
Going forward, Apco will participate in the acquisition of 100 square
kilometers of additional 3D seismic in the Llanos 32 block during 2013. Apco
also plans to drill its second exploration well in the Turpial block this year
and begin the construction of well sites to support its 2014 drilling campaign
in the Llanos 40 block.
“We are satisfied with the results we have achieved so far in Colombia where
we have drilled five exploration wells. Three have been tested as oil
discoveries and a fourth well is about to be tested for its oil potential,”
said Michael Kyle, Apco’s chief operating officer.
“We are hopeful that over the balance of 2013 and into 2014 we can continue
our efforts to make Colombia an important contributor to Apco’s income and
cash flow,” Kyle added.
About Apco Oil and Gas International Inc. (NASDAQ: APAGF)
Apco Oil and Gas International Inc. is an international oil and gas
exploration and production company with interests in nine oil and gas
concessions and two exploration permits in Argentina, and three exploration
and production contracts in Colombia. More information is available at
www.apcooilandgas.com. Go to http://www.b2i.us/irpass.asp?BzID=1671&to=ea&s=0
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Apco Oil and Gas International Inc.
Kelly Swan, 539-573-4944
David Sullivan, 539-573-9360
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