 Drilling and subsequent log analysis confirmed 2m of oil saturated sand at 793m with fluorescence (oil shows) across expanded target interval Well reached TD at 845m and is currently being completed for testing 4 well conventional programme will address: 	 multiple wells different targets significant conventional potential with very material upside oil and gas targets non-binary outcome, 3 of 4 wells have multiple objectives Petrel Energy has announced that Schuepbach Energy Uruguay (51%-owned by Petrel) has successfully drilled the Cerro Padilla-1 well to a Total Depth (TD) of 845m. The well encountered significant oil shows with logging confirming 2m of oil saturated sand at 793m. (Working Interests Petrel 51%: Schuepbach Energy 49%). On the back of what is the first ever confirmed discovery of hydrocarbons in Uruguay the well is being completed for production testing.Â Â  Cerro Padilla-1 is the first of four conventional exploration wells to be drilled in the Norte Basin Uruguay on concessions covering 3.5 million acres.Â Piedra Sola and Salto concessions onshore Norte Basin Uruguay covering 3.5m acres Petrel CEO David Casey said:  'While further evaluation is required to understand the full potential of these excellent initial results, the significance of being the first group to discover oil in this frontier basin cannot be underestimated.Â  Although only a modest discovery in its own right, and regardless of the results of production testing, when viewed in the context of what this could mean for the rest of the programme and the concessions as a whole, it represents a quantum first step in redefining the oil and potentially gas prospectivity of the Notre Basin. Itâs not been an easy process drillingÂ  the first onshore exploration well in 30 years in Uruguay but this is an outstanding achievement for the first of a four well programme.'Â  He went on to say 'I would like to thank the team that got us here, in particular, Martin Schuepbach for his geological vision and expertise, local staff and contactors, new onsite drilling experts New Tech Global Ventures, drillers New Force Energy, partners Schuepbach Energy and our shareholders that have supported us in reaching this significant milestone.'Four well programme extends SE/NW across both concessions Original article link Source: Petrel Energy 
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