Echo's Argentine Campaign Finds More Gas

Latin-American focused AIM-listed explorer Echo Energy has successfully completed drilling the CSo-2001(d) well in its Fraccion D play. It said July 9 a "notable gas column has been interpreted from the wireline logging suite."

It reached a total depth of 1511 metres in the Upper Jurassic Tobifera formation and found over 60 m of gas shows through the Upper Tobifera with a full distribution of C1 to C5 hydrocarbons.

Preliminary wireline log evaluation has now been completed from which the initial interpretations indicate around 30 m of potential net pay, which is towards the upper end of the range used in both contingent and prospective resource estimations and the interpretations are indicative of a gas with a high condensate gas ratio (wet gas).

CEO Fiona MacAulay said: "I am delighted that the our fourth well in the current drilling campaign has again successfully interpreted a notable gas column in the Tobifera. With the Quintana 01 completion and testing rig mobilising to the area this week we will be able to test this interval within the forthcoming testing sequence, enabling an early decision to be made on monetisation options in Fraccion D. We are now looking forward to commencement of testing on the ELM 1004 well which will be the first well to be tested in this programme."