Ivanhoe Energy Inc. (IVAN) Reports Successful Test Well in Ecuador
Ivanhoe Energy Inc. reported the results of a log and core analysis from a test well on Block 20 of the Pungarayacu oil field in Ecuador. The company said that the results were positive and indicates the presence of a heavy oil reservoir in the Hollin formation. The IP-15 well was drilled to a total depth of 1,343 feet, and encountered 300 feet of net pay in the Hollin formation. The company will commence cyclic steam stimulation in the well, which involves injecting steam down hole to see if production can be successfully stimulated. “We are excited by the initial…