Challenger Announces "Endeavour" Well is Spud, on Block 5(c) Offshore Trinidad
September 02 2008 - 8:19AM
Marketwired
Challenger Energy Corp ("Challenger") (TSX VENTURE: CHQ) (AMEX:
CHQ), announced today that on August 28, 2008, the "Endeavour" well
was successfully spudded with the Kan Tan IV semi-submersible
drilling rig. The "Endeavour" well is located approximately 5.2
miles north from the recently announced "Bounty" natural gas
discovery on Block 5(c), offshore the Republic of Trinidad and
Tobago. As of September 2, 2008, the "Endeavour" well has been
spudded (August 28th), successfully drilled to a depth of 1,227
feet subsea where the 30" surface conductor casing was run and
cemented in place; and, the next section of the hole, the 26"
section, has been drilled to approximately 2,305 feet subsea
(06:00EDT).
The "Endeavour" well is planned to be drilled to a total
vertical depth of approximately 18,000 feet subsea in about 940
feet of water. The Kan Tan IV semi-submersible drilling rig, which
recently drilled the "Victory" and "Bounty" natural gas discovery
wells on Block 5(c), is drilling the "Endeavour" well, in this
initial 3 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.
This news release contains forward-looking information,
including estimates, projections, interpretations, prognoses and
other information that may or relates to future production,
resource potential and/or reserves, project start-ups and future
capital spending. Actual results, estimates, projections, resource
potential and/or reserves, 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 may contain 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 undiscovered
resources will be discovered and that, if discovered, in this or
any other discovery, the discovered resource 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, resource potential and/or reserves, 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
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the Corporations' annual reports on Form 20-F on file with the U.S.
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Contacts: Challenger Energy Corp. Dan MacDonald (403) 503-8815
(403) 503-8811 (FAX) Challenger Energy Corp. Suite 200, 744 - 4th
Avenue S.W. Calgary, Alberta, Canada T2P 3T4 Website:
www.challenger-energy.com