Jun 2016: Amerisur reports that the Jaguarete-1 exploration well in the San Pedro permit in the Parana Basin has oil shows within low porosity sandstones of the Lima and Santa Elena formations. The oil is unlikely to be commercially extractable.
Apr 2016: Amerisur Resources has spudded the Jaguarete-1 well in the San Pedro block within the Parana basin in the east of the country. The well is targeting the Devonian Santa Elena and Lima formations.
No significant news in 2015.
Oct 2014: President (operator, 64%) announced that Lapacho well in the Pirity Concession, Chaco Basin has discovered light oil. The discovery supports the presence of oil in the deeper sandstone reservoirs of the Jacaranda well and re-entry of this well is proposed.
Sep 2014: President Energy has announced the spudding of the Lapacho well, the second of its 3-well program. The company has also completed preliminary evaluation of the Jacaranda well which shows potential gas and condensate volumes. This well has been suspended for future flow testing and deepening.
Jun 2014: President Energy spudded the first deep exploration well drilled in the Chaco in almost 30 years. The Jacaranda-1 well has been designed to test a play system in the north-west flank of the Pirity concession with Cretaceous and Palaeozoic reservoirs targeted. President expects the well to be drilled to a depth of 4200m and take 70 days.
Mar 2014: President Energy has entered into a drilling contract with Queiroz Galvao Oleo e Gas from Brazil for its 2014 drilling campaign and mobilisation of a rig from Brazil will commence soon. The first well will be drilled on the Jacaranda Prospect on the northwest flank of the Pirity Concession by the end of May.
Sep 2013: President has almost completed seismic acquisition in the Pirity Rift Basin of the Chaco. Two play fairways have been identified. One is an extension of the Palmar Largo trend in Argentina. The other is a Paleozoic system that has charged fields in southern Bolivia and northwest Argentina. The Company has identified more than 20 structural prospects and intends to drill 3 wells from mid 2014.
Jul 2013: President Energy has completed its seismic operation in Paraguay one month ahead of schedule, acquiring 780 sq kms of 3D and 100 kms of 2D seismic, and identifying a number of prospective drilling targets.
Nov 2012: Paraguay could start producing oil in 2013, according to President Federico Franco. He said preliminary studies by oil firms point to large quantities of oil in the arid hinterland known as the Chaco (GS notes: this basin produces in Bolivia but has not yet been proven to contain commercial reserves in Paraguay).