Hong-Kong based New Times Energy subsidiary, High Luck reported on 12 December 2018 that it tested oil on the Los Blancos x-2001 exploration well on the Chirete Block of the Oran-Olmedo Basin. 550 bo/d at 34deg API with virtually no water cut was tested from the Ordovician Las Brenas Formation. Gas shows were also reported in the well. Further evaluation will be conducted to determine commerciality of the tests. It was spud on 27 October 2018 and finished drilling on 29 November 2018 with a 2,705m TD. High Luck operates with 50% and Petrolera Pampa holds 50% interest in the Chirete license. High Luck has submitted a contract extension request to the Salta authorities as the contract expired on 18 November 2018, in order to complete the evaluation of this discovery.
Argentina, Chirete