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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (4081)	2/12/2014 6:21:15 PM
From: Goose94	Read Replies (1) \| Respond to of 202883

CWV-V popped! Closed $0.59 up 14 cents vol. 2.8 million shares. Bill Bonner President & Portfolio Manager had positive things to say about Argentina on BNN.ca Market Call at 1300 today. One of his Top Picks MVN-V CWV - NR Feb 12, '14 Crown Point Energy Inc. has drilled, logged, cased and rig released the La Hoyada x-1 exploration well as a potential Vaca Muerta oil discovery on the Cerro de los Leones concession in the Neuquen basin, province of Mendoza, Argentina. The La Hoyada x-1 well was drilled to a total depth of 1,953 metres and encountered persistent oil shows and gas while drilling through the Vaca Muerta formation which consisted of 125 metres of shale and 84 metres of imbedded fractured igneous intrusives. Crown Point believes that the presence of the oil shows and background gas demonstrates that the Vaca Muerta formation at Cerro de los Leones is mature and generating oil. Analogous wells in the area indicate that the fractured intrusive igneous rocks in the Vaca Muerta could function as a conventional fractured reservoir sourcing oil from the surrounding Vaca Muerta shale. Interpretation of samples and logs indicate that 36 metres of the total 84 metres of intrusives were highly fractured and had the best live oil shows during drilling. Similar igneous intrusives in the Mendoza portion of the Northern Neuquen basin are recognized as significant hydrocarbon reservoirs having produced over 26 million barrels of oil to date from areas surrounding Cerro de los Leones. Additional secondary targets in the well include a five-metre-thick fractured limestone layer at the bottom of the Chachao formation and several fractured igneous intrusives in the Agrio formation all with oil and gas shows and full gas chromatography. Crown Point has sent the Vaca Muerta drilling samples for laboratory analysis to obtain information on total organic content and thermal maturity. The company is commencing to design a completion program for the La Hoyada well. A potential analogy to the La Hoyada well is the Vega del Sol well x-1, located on the Cerro de los Leones concession four kilometres to the northwest of La Hoyada. This well was drilled in 1995 by YPF and encountered the Vaca Muerta 150 metres structurally lower than the La Hoyada well. It was completed in intrusive igneous rocks penetrating the Chachao formation and production tested at rates between 300 and 400 barrels of oil per day. Due to problems with the well cementation program it was subsequently suspended and abandoned by YPF. Crown Point believes that this drilling result is confirmation of the conventional and unconventional potential of the Vaca Muerta formation on Crown Point's 100-per-cent-interest 314,000-acre Cerro de Los Leones concession. Crown Point's geological model at Cerro de Los Leones has indicated an area of 350 square kilometres in the oil generation window.