Porto Energy Commerces Re-Entry on Alj-4 Onshore Portugal

Porto Energy Corp. has commenced re-entry operations on the Alj-4 well on the Aljubarrota-3 onshore concession in central Portugal.

The Alj-4 well was originally drilled in 2005 to a depth of 2,110 meters as a direct offset to the Company’s Alj-2 well that discovered 366 BCF of contingent gas resources in a Jurassic fractured Brenha carbonate formation. The original Alj-4 well was temporarily abandoned above the gas accumulation due to operational constraints.

Porto intends to deepen the Alj-4 well by 450 meters to approximately 2,550 meters to appraise the gas-bearing reservoir in the Jurassic Brenha carbonate. Drilling operations,which includes acquisition of 60-70 meters of conventional core, are expected to take approximately one month, with analysis of the well results is expected to be completed by the end of August 2011.

“We are moving forward with our asset appraisal program ahead of schedule,” said Joseph Ash, President and CEO of Porto Energy. “Our primary goal for the re-entry and deepening of the Alj-4 well is to optimize future horizontal well design and commercialize the Aljubarrota gas discovery. After the re-entry is completed, we intend to move the rig 70 kilometers south to the Torres Vedras-3 onshore concession to test multiple Jurassic reef oil prospects defined by our recently completed 120 km2 3D seismic survey.”

Source: Porto Energy