ANCAP: Uruguay On October 20, 2017, the Cerro Padilla X-1 well, located to the northeast of the department of Paysandú, reached a total depth of 845 m, the exploratory objective being the sandstones of the Tres Islas formation.

This is the first exploratory well drilled by Schuepbach Energy (51% controlled by Petrel Energy of Australia ASX:PRL) which holds a 3.5million acre exploratory licence area with Uruguay

Uruguay under the Exploration & Production contracts with ANCAP in the Salto and Piedra Sola blocks.

The profile analysis showed 2 m (6 feet) of sand with oil saturation at a depth of 793 m. Fluorescence occurred throughout the entire range.
This is the first onshore exploratory well in 30 years in Uruguay and the first one in which hydrocarbons have been discovered. Despite this, it remains to be determined whether the discovery is marketable.

The next step will be to study the flow of hydrocarbons to the surface.
This information will not be realeased until the new stages of work are completed, the press release stated
Exploration and analysis work remains to be carried out, but data acquired during this drilling have improved understanding of the geology and exploratory potential of the Northern Basin.

Notes:
Fluorescence: analysis to detect the presence of hydrocarbons
Hydrocarbon saturation: a characteristic that is calculated from the resistivity to the passage of electric currents that allows to conclude that in the pores of the reservoir the hydrocarbons (non-conductors) have displaced the water (conductor of electricity) originally trapped in them. As an indirect method, it must be confirmed with direct evidence.

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