Parex Resources Updates on Cabrestero Block

- July 5th, 2012

Parex Resources Inc. (TSX:PXT) updated on the Cabrestero, LLA-20, LLA-32 and LLA-34 blocks.

Parex Resources Inc. (TSX:PXT) updated on the Cabrestero, LLA-20, LLA-32 and LLA-34 blocks.

As quoted in the press release:

Kitaro-1 was spud on April 16, 2012 and was drilled to a target depth of 10,800 feet. The well encountered prospective oil pay in the Mirador and Une formations. Kitaro-1 was completed in the Une Formation and commenced production June 28, 2012 at a rate of approximately 1,500 barrels of oil per day (“bopd”) of 32° API light oil.

Click here to read the Parex Resources Inc. (TSX:PXT) press release.

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