7th Apr 2015 11:45
LONDON (Alliance News) - Baron Oil PLC Tuesday said it has temporarily shut-in the Nancy 1 well on the Nancy Burdine Maxine field onshore Colombia as its oil storage facilities are full.
The Nancy 1 well had been producing around 400 barrels of oil per day before it was shut in over the Easter weekend, and Baron Oil said the tankers that were transporting its crude oil from the field to Ecopetrol, which stores the oil, have been suspended until Ecopetrol can resolve "certain internal issues at their delivery depot," it said in a statement.
In addition, Baron Oil said protesters from the local community living around the Nancy Burdine Maxine field have blocked the company's only exit route from the field, in an attempt to get the company to conduct maintenance work on the key bridge that crosses the Acae river. Baron Oil said this incident is completely separate from the issue with the storage facilities.
"The company anticipates that both these issues should be resolved quickly although it notes the bridge maintenance issue will require input from local government agencies as well as Ecopetrol," said Baron Oil.
Baron Oil shares were down 2.1% to 0.685 pence per share on Tuesday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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