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(27/09/2012 11:10)

Citation drills Atzam-4 well in Guatemala

Australia listed, Citation Resources, is currently drilling at the Atzam-4 well in Guatemala, having already encountered strong oil and gas shows over a 15.24-metre section.

The company said that it drilled up to 862.6 meters and is expected to reach the primary C18 and C19 reservoir targets, at a depth of about 1219.2 meters, in about 10 to 15 days.

Citation said that it discovered oil and gas over a 15 meter section in the C14 carbonates, from limestones and vuggy dolomites.

Atzam-4 is located in Block 1-2005 in the South Peten basin of Guatemala.
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