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Gold/Mining/Energy : Gran Tierra Energy (GTE)
GTE 3.820+0.7%12:27 PM EDT
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From: architect*10/10/2009 3:29:09 PM
1 Recommendation   of 161
 
One of the 2009 exploration wells, I'm most excited about is Moqueta -1. Moqueta -1 is a wildcat (exploration) well located north east of Costayaco, it's another 60mmbo target, similar to the Costayaco oil field. Quite a bit of information has been posted here (on Investor Village) the Moqueta -1 oil target.

Hopefully, Moqueta-1 will be a discovery well made prior to the time that GTE finalizes the capacity of the Putumayo phase 2 pipeline, (to Ortio). I suppose a Moqueta -1 discovery well would require a 100 kilometer twin pipeline following the phase 2 from Costayaco to Ortio

The latest press is the first time GTE has called Moqueta, Moqueta (since 2005) instead of Norte Costayaco, so Moqueta is (IMO) a separate structure (oil field), and not a continuation of the Costayaco structure (oil field). A discovery in Moqueta -1 would be a huge plus for the valuation ."

In the GTE news release of Dec. 11, 2008, the company stated: "The Moqueta-1 prospect is scheduled to be drilled to the north of the Costayaco field in the second half of 2009".

Here is the original 2005 Bloque Chaza survey from the ANH to Argosy Energy International. Notice that the Moqueta Prospect is clearly identified on this survey. The cell spacings on the survey (both the X and Y coordinates) are 2,500 meters square (= 1.55 statute miles square). It is relatively easy to locate the Moqueta Prospect boundaries to the Costayaco field and to the top northwesterly border of the Chaza Block.

This link provides some detailed information on the Moqueta-1 wildcat.

investorvillage.com

This link provides some backgound on 7 of Gran Tierra 14 well exploration program in 2010.
investorvillage.com



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