Echo in significant Argentina find

Argentina

BUENOS AIRES, June 21, 2018 – E&P independent Echo Energy has identified a significant volume of light oil in the Fracción C block through its EMS-1001 exploration well, the company announced in a press statement on Thursday.

The oil was encountered at depths of 1,722-2,220 metres. The discovery comes after the ELM-1004 well struck about 40 metres of gas in the Lower Tobifera formation in the same permit in May.

“If hydrocarbon saturations across this section are confirmed, the preliminary evaluation might represent an interval of some 500 metres,” the statement said.

Echo and partner Companı̃á General de Combustibles plan to test the well in July in a “critical next step to establish the effectiveness and deliverabilty of the reservoir.”

Reaching a total depth of 2,460 metres in the Upper Jurassic Tobífera formation, EMS-1001 is the third well drilled in the licence under a four-well campaign that began in May.

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