PAN Andean Resources is to start drilling at its prospect in the central Bolivian Chapare block in which it has a 20 per cent interest.
The exploration well, Todos Santos X-I, will be drilled to a depth of 5,000 metres on the southern side of three tilted fault structures in the south west of the block.
Once site construction is complete, drilling will start, said Pan Andean which is in the project at no cost.
BHP Petroleum (Americas) holds 80 per cent of the block. The primary target is within the Miocene Petaca Formation, which is the producing reservoir in the nearby Surubi field, 70 km to the south east.
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Agreement has been signed with the Bolivian government to cover the drilling.
