LAR begins Guatemala well testing

Latin American Resources (LAR), operator of the Atzam-4 well in Guatemala, has begun flow testing the well's C13 and C14 sections. "The C13 and C14 carbonate sections in the well were considered the most prospective oil bearing reservoir units in the well based on the electric log data, and independently confirmed following review of all the well data by industry experts, including Schlumberger [NYSE: SLB]," Citation Resources (ASX: CTR) said in a press release. Atzam-4 has a probable reserves estimate of 2.3Mb using a 30% recoverability factor, Citation Resources said, citing Schlumberger's report. Additionally, C13 and C14 are the main producing zone at the nearby Rubelsanto field, which has produced over 30Mb from eight wells to date. Citation Resources holds a farm-in right to acquire a 70% interest in LAR.