Pan Andean reports delay at Texas well

Clontarf-based Pan Andean Resources announced drilling from its Vrazel 2 well, in onshore Texas is to take an additional two weeks.

The company has a 21.3% interest in this well, and reports the delay is due to mechanical problems encountered at depth by the drill contractor.

A cement plug has been set at 2,083 feet and the hole is being redrilled.

There is no additional cost to to the company.

Last week the well reached a depth of 9,271 feet and the group report that mud logs were encouraging, with 10 gas shows, and particularly strong shows were encountered in the main target zone.

The Vrazel 2 well is being drilled in an area adjacent to the Danbury Dome area which is 100% owned by Pan Andean and may contain up to 75 billion cubic feet of gas.

Pan Andean's Managing Director David Horgan commented: "Drilling is ongoing and the gas shows make us optimistic. If successful, this well will enhance the Danbury Dome area."

Pan Andean Resources produces oil and gas from drilling operations in the US, Mexico, and Bolivia.