Echo Energy says a ‘significant light oil column’ has been interpreted in the EMS-1001 well onshore Argentina.

Latin America focused upstream oil and gas company, Echo Energy plc, announced Thursday that a “significant light oil column” has been interpreted in the EMS-1001 well onshore Argentina.

The well, located in the Fraccíon C license operated by Compañía General de Combustibles S.A., reached a total depth of 8,070 feet in the Upper Jurassic Tobifera formation. Following preliminary wireline log evaluation, Echo said a “significant” hydrocarbon column was interpreted between 5,649 feet and 7,283 feet.

“If hydrocarbon saturations across this section are confirmed, the preliminary evaluation might represent an interval of some 500 meters [1,640 feet] which could significantly open up the play for the area,” Echo said in a company statement.

Fiona MacAulay, CEO of Echo, said the results of the well were “very encouraging”.

“Testing is the critical next step to establish the effectiveness and deliverability of the reservoir and we caution that any conclusions prior to test results would be premature,” MacAulay said in a company statement.

“The company will now take the time required to confirm the early interpretation of the wireline logs and design an effective test program with a view to confirming the scale of our new oil discovery,” the CEO added.

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