Petrominerales Ltd. (TSX: PMG), a 76.4% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX: PBG), is pleased to announce that our Corcel-D2 exploration well is producing 4,500 barrels of 26 degree API oil per day from 46 feet of high quality sand in the Mirador formation, at a 50% water cut.
PETROMINERALES RESUMES OPERATIONS AT ORITO AND LAS AGUILAS
Petrominerales Ltd. , a 76.4% owned subsidiary of Petrobank Energy and Resources Ltd., is pleased to announce that the strike affecting our production and drilling operations at the Orito field and operations at our Las Aguilas exploration block has been lifted. Ecopetrol, the Orito field operator, has commenced the process of reactivating production from the field. It is expected that Orito production will ramp back up over the next week. We are also mobilizing personnel to the area and plan to recommence drilling and workover operations within the next few days.