The en­er­gy sec­tor was giv­en a dose of good news over the week­end af­ter the dis­cov­ery of vir­gin oil in the Ja­cobin-1 well.

Trin­i­ty Ex­plo­ration an­nounced the dis­cov­ery in a state­ment on Mon­day.

The com­pa­ny stat­ed that Ja­cobin-1 had been suc­cess­ful­ly drilled to a to­tal depth of 10,021 feet and is one of the deep­est wells drilled in re­cent times with­in the pro­lif­ic Pa­lo Seco area, on­shore Trinidad.

Ac­cord­ing to the com­pa­ny’s news re­lease, “Over 290 feet of net oil pay en­coun­tered in the Ja­cobin well, in­clud­ing 63 feet of net oil pay in the deep­er ex­plo­ration tar­gets. A com­pre­hen­sive log­ging and pres­sure sam­pling pro­gramme has con­firmed vir­gin pres­sures in these deep­er zones.”

A vir­gin dis­cov­ery sig­ni­fies that pro­duc­tion has not pre­vi­ous­ly done from the find.

Je­re­my Bridglals­ingh, Chief Ex­ec­u­tive Of­fi­cer of Trin­i­ty, said, “This is a very sig­nif­i­cant and ma­te­r­i­al achieve­ment by the team. To find vir­gin oil in our ma­ture acreage points to a step-change in our un­der­stand­ing of the hy­dro­car­bon sys­tem, the re­main­ing re­source po­ten­tial and how we can ap­proach the ex­ploita­tion of these re­sources.”

Trin­i­ty said the dis­cov­ery val­i­dat­ed the com­pa­ny’s “ge­o­log­i­cal mod­el and are with­in pre-drill range for a com­mer­cial dis­cov­ery.”

The com­pa­ny con­firmed that the well is be­ing pre­pared for a se­ries of pro­duc­tion tests that is like­ly to com­mence with the deep­est oil-bear­ing reser­voir, and first pro­duc­tion is ex­pect­ed dur­ing Sep­tem­ber.

He con­tin­ued, “I would like to con­grat­u­late the Trin­i­ty team on this suc­cess. We have demon­strat­ed a true com­pet­i­tive ad­van­tage by the hard work in build­ing our ge­o­log­i­cal un­der­stand­ing, work­ing through the many as­pects of plan­ning and de­liv­er­ing a com­plex well and crit­i­cal­ly, safe ex­e­cu­tion of drilling op­er­a­tions.”

Briglals­ingh al­so praised state owned Her­itage Pe­tro­le­um for its work in the drilling process.

“I would al­so like to thank our part­ner Her­itage, for their val­ued help and as­sis­tance in fa­cil­i­tat­ing the drilling of this well. The next step is to un­der­take a full pro­duc­tion test­ing pro­gramme, that is ex­pect­ed to com­mence dur­ing Sep­tem­ber. We look for­ward to up­dat­ing share­hold­ers on our progress,” he said.