Nicaraguan oil wells testing positive

Norwood Resources announces that the testing program recovered noncommercial flows of oil in both wells.

Monday, October 27, 2008

Tests were impeded by various problems and inaccurate identification of moveable oil from well logs. The Company plans to reinterpret logs in light of data from the testing to pursue those zones where oil was recovered during swabbing and while drilling. The Company is currently planning a twin to the San Bartolo well that will likely be spudded in late Q4/early Q1 2009.

More on this topic

Nicaragua: Norwood Extracts Light Crude Oil

December 2009

At the San Bartolo field, Norwood Resources extracted light crude oil with 38.5 API gravity.

In a progress report, the company detailed that they extracted 57.3 barrels of light crude oil, at a depth of approximately 1.9 km.

Norwood stated that "Although the conclusive recovery of light gravity oil is very encouraging, additional testing and flows need to be completed in order to determine the potential for commercial viability".

Vietnam to Look for Oil in Nicaragua

March 2009

Under an agreement signed between the two state oil companies, exploration would begin in four weeks.

A delegation from PetroVietnam led by Dinh La Thang signed an agreement yesterday with Francisco Lopez, president of Petroleos de Nicaragua.

According to a report in plenglish.com, Lopez also announced that "petroleum technology transfer will begin immediately between the two countries to support the construction of the refinery being built in Nicaragua with the aid of Venezuela."

Nicaraguan oil wells testing positive

October 2008

Norwood Resources announces that the testing program recovered noncommercial flows of oil in both wells.

Tests were impeded by various problems and inaccurate identification of moveable oil from well logs. The Company plans to reinterpret logs in light of data from the testing to pursue those zones where oil was recovered during swabbing and while drilling.

Norwood Resources to test oil find in Nicaragua

May 2008

Nicaraguans are waiting anxiously after news that US-based Norwood Resources struck oil in San Rafael del Sur, some 50 kilometers south of Managua.

Norwood said that samples taken from one of its exploratory wells are being tested in Houston and further drilling will be needed to establish the commercial viability of the project.

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