Petrodorado Provides Operations Update and Announces a Follow-Up Conference Call

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Petrodorado Energy Ltd. ("Petrodorado" or the "Company") (TSX VENTURE:PDQ) is
pleased to provide an operational update on the Talora Block and CPO-5 Block in
Colombia.


Talora

The exploration well Dorados-1X started drilling operations on July 31 and has
reached a depth of 6,685 feet. The well has been cased and further drilling is
ongoing to reach the main target of the Caballos formation. The section drilled
and cased so far has identified the following:


Multiple hydrocarbon bearing sandstones have been identified and will be tested
at the end of the well.




Zone                  Net Pay (feet)         Porosity(%)   Hydrocarbon type 
----------------------------------------------------------------------------
                                                                            
X2                          30 feet                7-10%     gas-condensate 
X1                          80 feet               10-15%          Light Oil 



In addition to the above zones, unconventional gas-condensate shale of over 500
feet has also been identified and preliminary testing to evaluate deliverability
will be conducted at the end of the well.


As multiple zones have been identified for testing, the operational plan has
been modified to test all the zones after completing drilling with a completion
rig instead of the present drilling rig. The Company expects the testing results
to be available in November. 


Petrodorado is the operator of the block with a 65% Working Interest.

CPO-5

The drilling rig presently drilling the Dorados-1X well, is expected to move
after completing drilling to CPO-5 to drill the first well. Present plans
estimate drilling to start in the second half of October. Petrodorado has a 30%
non-operated working interest in this block.


Conference Call

The Company will hold a conference call at 10:00 AM Mountain Time on the 24 of
September, 2012. 

Call-in numbers: 1-888-396-8049 or 1-416-764-8646 (international)
A recording of the call will be available on the company website thereafter.

Krishna Vathyam, Chairman, President and CEO of Petrodorado Energy Ltd.

"We are very encouraged with the hydrocarbon bearing zones identified so far in
our Dorados-1X well and eagerly await testing these zones, once drilling has
been completed. In addition, with the drilling for our CPO-5 block expected to
start shortly, we are entering an exciting phase of our exploration program."


About Petrodorado Energy Ltd.

Petrodorado is primarily engaged in petroleum and natural gas exploration and
development activities in Colombia, Peru and Paraguay. Its head office is
located in Calgary, Alberta, Canada and Petrodorado's common shares are traded
on the TSXV under the trading symbol "PDQ". 


Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, certain
information presented herein constitutes "forward-looking statements". Such
forward-looking statements, including but not limited to the expected timing
from the company's drilling results are subject to numerous uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Although
the Company has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers are cautioned that the assumption used in the preparation of the
forward-looking statements, although considered reasonable at the time of
preparation may prove to be imprecise and, as such undue reliance should not be
placed on forward-looking statements. These forward looking statements are based
upon assumptions that the Company has made concerning the oil and gas industry
in Colombia, Peru and Paraguay, the reliability of available data regarding the
properties in question, and the continuing market for oil and gas. Risk factors
may include the uncertainty of conducting operations under a foreign regime, the
availability of labour and equipment, the fluctuating price of oil and gas, and
the Company's dependence upon other participants in the property areas. Neither
the Company nor any of its subsidiaries nor any of its officers or employees
guarantees that the assumptions underlying such forward-looking statements are
free from errors, nor do any of the foregoing accept any responsibility for the
future accuracy of the opinions expressed in this document or the actual
occurrence of the forecasted developments.


The forward-looking statements contained in this press release are made as of
the date of this press release. The Company disclaims any intention and assume
no obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
applicable securities law. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made, by third parties in respect
of the matters discussed above.
Petrodorado Energy (TSXV:PDQ)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024