Canadian Superior and Challenger Energy Announce Drilling of Final Section of "Victory" Well Offshore Trinidad
December 04 2007 - 8:55AM
Marketwired
CALGARY, ALBERTA (TSX: SNG) (AMEX: SNG) and Challenger Energy
Corp. ("Challenger") (TSX VENTURE: CHQ) (AMEX: CHQ) announced today
that drilling operations are in progress in the final section of
the "Victory" well offshore Trinidad, in the 8-1/2" hole section,
currently drilled to a depth of approximately 15,811 feet this
morning. This final section is scheduled to be drilled to a total
depth of approximately 16,000 feet.
Speaking today, Craig McKenzie, Canadian Superior's Chief
Executive Officer, said, "We are presently drilling in the final
section of the 'Victory' well that contains the main targets of the
well. We look forward to finishing the drilling of this final
section of the well over the next two to three days and commencing
further operations on the well, including open hole wire line
logging. Further updates on the well will be provided in due
course."
Canadian Superior's joint venture partners in the "Intrepid"
Block 5(c) Project are BG International Limited, a wholly owned
subsidiary of the BG Group plc (LSE: BG.L) and Challenger Energy
Corp. ("Challenger") (TSX VENTURE: CHQ) (AMEX: CHQ). The Kan Tan IV
semi-submersible drilling rig drilling the wells is operated by
Maersk Contractors and owned by SINOPEC has been contracted by
Canadian Superior to drill a multi-well program of three (3)
back-to-back exploration wells, "Victory", "Bounty" and "Endeavour"
on the "Intrepid Block 5(c) located approximately 60 miles off the
east coast of the island of Trinidad.
Canadian Superior is a Calgary, Alberta, Canada based oil and
gas exploration and production company with operations Offshore
Trinidad and Tobago, Offshore Nova Scotia, Canada and in Western
Canada. See Canadian Superior's website at www.cansup.com to review
Canadian Superior's operations in Western Canada, Offshore Trinidad
and Tobago and Offshore Nova Scotia interests. Canadian Superior
has approximately 20,000 shareholders worldwide, including some of
the top institutional shareholders in North America.
Challenger Energy Corp. is a Calgary, Alberta, Canada based oil
and gas exploration company which is currently focusing on "high
impact" oil and gas plays offshore Trinidad and Tobago and offshore
Nova Scotia. (See Challenger's website at www.chaenergy.ca).
This news release contains forward-looking information,
including estimates, projections, interpretations, prognoses and
other information that may or relates to future production, project
start-ups and future capital spending. Actual results, estimates,
projections, interpretations, prognoses and/or estimated results
could differ materially due to changes in project schedules,
operating performance, demand for oil and gas, commercial
negotiations or other technical and economic factors or revisions.
This news release contains the reference to the term "undiscovered
natural gas resources", which are those quantities of natural gas
estimated to be contained in accumulations yet to be discovered.
There is no certainty that any portion of the undiscovered
resources will be discovered and that, if discovered, it may not be
economically viable or technically feasible to produce.
Statements contained in this news release relating to future
results, events and expectations are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements involve known and unknown
risks, uncertainties, scheduling, re-scheduling and other factors
which may cause the actual results, performance, estimates,
projections, interpretations, prognoses, schedules or achievements
of the Corporation, or industry results, to be materially different
from any future results, performance or achievements expressed or
implied by such statements. Such factors include, among others,
those described in the Corporations' annual reports on Form 40-F or
Form 20-F on file with the U.S. Securities and Exchange
Commission.
Contacts: Canadian Superior Energy Inc. Investor Relations (403)
294-1411 (403) 216-2374 (FAX) Website: www.cansup.com Canadian
Superior Energy Inc. Suite 2700, 605 - 5th Avenue S.W. Calgary,
Alberta Canada T2P 3H5 Challenger Energy Corp. Dan MacDonald CEO
and President (403) 503-8810 (403) 503-8811 (FAX) Website:
www.chaenergy.ca Challenger Energy Corp. Suite 200, 744 - 4th
Avenue S.W. Calgary, Alberta Canada T2P 3T4
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