GeoPark makes 5th oil discovery in Colombia's Llanos 34 block

Oil & Gas - Colombia 

Latin America-focused GeoPark (AIM: GPK) made its fifth oil discovery at the Llanos 34 block in Colombia's Llanos basin, a GeoPark press release said.

The firm discovered oil in the Tigana Sur 1 exploration well. The well was drilled to a total depth of 3,692m and produced 15.3 degree API oil, with a 0.2% water cut, at a 1,597b/d rate using a submersible pump.

"Further production history will be required to determine stabilized flow rates and the extent of the reservoir," GeoPark said.

GeoPark has a 45% operating interest in Llanos 34. The firm also has assets in Chile, Brazil and Argentina.