FIELD ACTIVITIES / International Rochester Energy Estero #3
Well Status
INTERNATIONAL ROCHESTER ENERGY CORP.
TSE, VSE SYMBOL: ROH
JANUARY 21, 1998
International Rochester Energy Announces Favourable Log
Analysis on Estero No. 3 Well and Plans to Deepen Well
VANCOUVER, BRITISH COLUMBIA--International Rochester Energy
announced today that the formation evaluation of the Mirador,
Guadalupe and Ubaque reservoirs in the Estero no. 3 well has been
completed. This well located on the company's Alcaravan
Association Contract in the Llanos Basin of Colombia, was drilled
as a delineation well to confirm the extent of the Palo Blanco
prospect and the reservoirs first discovered in the Estero no. 1
well, which tested 4000+ BOPD from only the Ubaque formation.
Rochester owns a 25 percent beneficial interest in the Palo Blanco
Field and similar rights to participate in the remaining area
within the 210,000 acre Alcaravan Association Contract and the
recently acquired 32,000 acre Miradores Association Contract.
The Mirador, Guadalupe and Ubaque formations were evaluated in the
Estero no. 3 with a series of electric logs resulting in the
following characteristics which compare favourably to the results
of Estero no. 1.
/T/
Formation Characteristic Estero no. 3 Log and Formation
Evaluation Analysis Results
Formation Thickness: Gross Net Productive
Mirador 90 feet 54 feet
Guadalupe 213 feet 163 feet
Ubaque 305 feet 12 feet
Other Data: Porosity Oil Saturation
Mirador 21 percent 46 percent
Guadalupe 21 percent 42 percent
Ubaque 22 percent 60 percent
/T/
Prior to testing the three zones discussed above, Harken de
Colombia, the operator of the well, has elected to drill deeper to
test a seismically defined structural feature beneath the Ubaque
formation. Based upon analysis of seismic data and subsurface
information gathered from a well drilled by Ecopetrol to the north
of Alcaravan, Rochester believes reservoir quality rocks could
exist in the Paleozoic formation. If successful, this formation
would establish a new productive interval in the Palo
Blanco/Estero field area.
At present 9 5/8" casing has been set to approximately 9400 feet.
Drilling is currently resuming to evaluate the Paleozoic
potential. Test results are not expected for several weeks.
Rochester Energy also announced today that Mr. Erich Perroulaz has
joined the Company's Board of Directors subject to regulatory
approval. Mr. Perroulaz will represent the interest on
Rochester's board of several financial institutions in Europe
that participated in the $6.6 million convertible note financing
last year. Mr. Perroulaz resides in Bern, Switzerland and is
presently a partner with Egli & Portner. Mr. Perroulaz brings
extensive experience in international financing to Rochester's
board.
Rochester Energy is a Canadian based oil and gas exploration
company and is participating in the exploration and development of
the 210,000 acre Alcaravan Association Contract and the 32,000
acre Miradores Association Contract located in the Llanos Basin of
Central Colombia. The Company is also pursuing other, high
potential, international oil and gas exploration opportunities. |
