Challenger Energy Corp. Announces Casing and Flow Testing of "Bounty" Well Offshore Trinidad
July 09 2008 - 8:30AM
Marketwired
CALGARY, ALBERTA (TSX VENTURE: CHQ)(AMEX: CHQ), along with its
partners Canadian Superior Energy Inc. ("Canadian Superior") (TSX:
SNG)(AMEX: SNG), and BG International Limited ("BG"), a wholly
owned subsidiary of the BG Group plc (LSE: BG.L), announced today
they have unanimously agreed to case and conduct flow testing on
the "Bounty" well located approximately 65 miles off the east coast
of the island of Trinidad.
The partners have completed the initial drilling of the well to
approximately 17,360 feet, along with the wireline logging, and are
now proceeding with running casing in preparation for testing. The
testing operation will take approximately 30 days, after which
operations will commence on the 'Endeavour' well, the third well in
the initial three well programme on the 'Intrepid' Block 5(c)
offshore Trinidad.
The "Bounty" well was spudded on February 20, 2008 on a separate
prospect from the "Victory" natural gas and condensate discovery
announced on January 14, 2008, and is located approximately 2.2
miles from the "Victory" well. The "Bounty" well was drilled by the
KanTan IV semi-submersible rig as the second well in the three-well
program.
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 the Republic of Trinidad and
Tobago. See www.challenger-energy.com for information on
Challenger.
Canadian Superior is a Calgary, Alberta, Canada based oil and
gas exploration and production company with operations primarily
offshore Trinidad and Tobago, offshore Nova Scotia, Canada and in
Western Canada. (See Canadian Superior's website at www.cansup.com
for information on Canadian Superior).
BG Group plc (LSE: BG.L) is a world leader in natural gas, with
a strategy focused on connecting competitively-priced resources to
specific, high-value markets. Active in 27 countries on five
continents, BG Group has a broad portfolio of exploration and
production, Liquefied Natural Gas (LNG), transmission and
distribution and power generation business interests. It combines a
deep understanding of gas markets with an excellent track record in
finding and commercialising reserves. See www.bg-group.com for
information on BG Group plc.
This news release contains forward-looking information,
including estimates, projections, interpretations, prognoses and
other information that may relate to current, past or future
production, development(s), testing, well test results, project
start-ups and future capital spending. Current, past and/or future
actual results and/or reported results, estimates, projections,
interpretations, prognoses, well results, test results, reserves,
production, resource and/or resource potential, development(s),
project start-ups, and capital spending, plans 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 may contain the reference to the terms
discovery, reserves and/or resources or resource potential which
are those quantities estimated to be contained in accumulations.
There is no certainty that any portion of these accumulations or
estimated accumulations in this news release may not change
materially; and that, if discovered, in any discovery, the
accumulations or estimated accumulations may not be economically
viable or technically feasible to produce.
Statements contained in this news release relating to estimates,
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 20-F on
file with the U.S. Securities and Exchange Commission.
Contacts: Challenger Energy Corp. Dan MacDonald CEO and
President (403) 503-8810 (403) 503-8811 (FAX) Challenger Energy
Corp. Suite 200, 744 - 4th Avenue S.W. Calgary, Alberta, Canada T2P
3T4 Website: www.challenger-energy.com