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Pacific Rubiales announces preliminary independent evaluation of the progress of the Star Pilot Project in Quifa SW, demonstrating a potential doubling of the ultimate recovery factor

Thursday, September 19, 2013

  • The Quifa SW field's In-Situ Combustion Project is an unqualified success.
  • The STAR pilot project has established incremental oil mobility and recovery by thermal stimulation by in-situ combustion.
  • Once injection of gases started, water cuts ceased increasing and conversely oil cut ceased decreasing.

Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) announced that it has received independent reports relating to the progress of its proprietary Synchronized Thermal Additional Recovery ("STAR") enhanced oil recovery pilot project in the Quifa SW heavy oil field. The reports include estimates of the Original Oil In Place ("OOIP") for the project, which combined with the accumulated production from the area since the inception of the project, allows the Company to estimate that at least a doubling of the recovery factor has been achieved from commencement of air injection in February, 2013 to date. Ronald Pantin, Chief Executive Officer of the Company, commented: "The estimates from the independent engineers of the OOIP and the drainage areas that...

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