November 27, 2017 – Vancouver, BC – Renaissance Oil Corp. (“Renaissance” or the “Company”) (TSX-V: ROE) is pleased to announce the Comisión Nacional de Hidrocarburos (the “CNH”) has approved drilling permits for the Chicontepec multi well drilling program on the Amatitlán block in Veracruz, Mexico. In conjunction with its partner Lukoil, Renaissance will conduct the following operations:
- During the week of December 4th, 2017, mobilize Simmons Edeco Rig 836 to a multi-well drilling location and spud the first well, Amatitlán 1649, of the 10 well drilling campaign which will occur over the course of several months;
- Each well will be directionally drilled, targeting multiple Chicontepec intervals, to a total depth of 1,975 meters; and
- The second well in the program, Amatitlán 1708, will be drilled subsequently from the same multi-well location.
“As the first Canadian operated oil well drilled in Mexico, in almost a century, the Amatitlán 1649 is a historical milestone”, stated Craig Steinke, Chief Executive Officer of Renaissance. He added, “Rig 836, owned by Canadian based Simmons Edeco, will also be used to drill the planned 4,200 meter measured depth horizontal Upper Jurassic shale well.”
Renaissance continues to make progress on its journey to become a major Mexican energy producer.