Drilling Report
February 16 2005 - 9:31AM
PR Newswire (US)
Drilling Report First Calgary Petroleums Ltd. Announces Test
Results from LES-2 Appraisal Well and Log Results from MLE-6
Appraisal Well CALGARY, Feb. 16 /CNW/ - First Calgary Petroleums
Ltd. ("FCP" or the "Company") announces production test results
from LES-2, an appraisal well located on FCP's 100% held Ledjmet
Block 405b in Algeria. Production testing of the well has resulted
in successful tests of 33,653 barrels of oil equivalent per day
(boe/d), comprised of 18,357 barrels of condensate per day and 91.8
million cubic feet of gas per day, normalized to a flowing wellhead
pressure of 2000 psi. Rates were as follows:
---------------------------------------------------- Test
Conditions Normalized Rates(xx)
-------------------------------------------------------------------------
FWHP Condensate Gas Condensate Gas TOTAL Interval psi(x) Choke
BBL/d MMcf/d BBL/d MMcf/d Boe/d(+)
-------------------------------------------------------------------------
Siegenian F6-2A Lower 4,034 32/64 2,494 12.2 9,467 50.9 17,951
-------------------------------------------------------------------------
Siegenian F6-2A Middle 3,020 32/64 1,601 9.9 1,690 11.9 3,673
-------------------------------------------------------------------------
Triassic TAG-I Lower 2,944 32/64 2,090 7.1 4,326 17.1 7,176
-------------------------------------------------------------------------
Triassic TAG-I Upper 2,422 28/64 1,377 5.7 1,888 7.8 3,188
-------------------------------------------------------------------------
Triassic TAG-M 2,298 32/64 1,754 7.2 986 4.1 1,665
-------------------------------------------------------------------------
TOTALS 18,357 91.8 33,653 -------------------------------- (x) FWHP
- Flowing Wellhead Pressure, pounds per square inch (xx) rate
normalized to a FWHP of 2000 psi (+) using a conversion ratio of 6
thousand cubic feet of gas to 1 barrel of oil equivalent. A boe
conversion of 6 Mcf: 1 bbl is based on an energy equivalency
conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead. Accordingly,
boes may be misleading, particularly if used in isolation. The
Company also announces initial results from the drilling of MLE-6,
an appraisal well on the MLE Field. Wireline logging of MLE-6
indicates the presence of 46 metres of net hydrocarbon pay over
multiple geological intervals. The MLE-6 well is the most westerly
and down-dip well drilled on the MLE Field to date. It is located
7.4 km southwest of the MLE-1 discovery well. Richard G. Anderson,
FCP's President and CEO stated, "The LES-2 well testing has yielded
excellent results and has added another geological interval to the
list of productive zones on Block 405b. The TAG-M, or Middle
Triassic Sandstone, was successfully tested and is now recognized
by FCP as a new play fairway extending across much of the
southwestern portion of Block 405b. Cumulative test rates for the
eleven wells now tested on Block 405b approximate 230,000 barrels
of oil equivalent per day. The MLE-6 well (the twelfth well on
Block 405b) is significant as it indicates an extension of certain
pools within the MLE Field." First Calgary Petroleums Ltd. is an
oil and gas exploration company actively engaged in international
exploration and development activities in Algeria. The Company's
common shares trade on the Toronto Stock Exchange in Canada (FCP)
and on the AIM market of the London Stock Exchange in the UK (FPL).
This news release includes statements about expected future events
and financial results that are forward looking in nature and
subject to risks and uncertainties. FCP cautions that actual
performance may be affected by a number of factors, many of which
are beyond its control. Future events and results may vary
substantially from what First Calgary Petroleums Ltd. currently
foresees. For further information: Richard G. Anderson, President
and CEO, First Calgary Petroleums Ltd., Tel: (403) 264-6697,
Website: www.fcpl.ca; European contacts: Jim Joseph, College Hill,
Tel: +44 (0) 207 457 2020; Carina Corbett, 4C Communications Ltd.,
Tel: +44 (0) 207 907 4761 (FCP.) END
Copyright
First Calgary Petroleums (LSE:FPL)
Historical Stock Chart
From Jun 2024 to Jul 2024
First Calgary Petroleums (LSE:FPL)
Historical Stock Chart
From Jul 2023 to Jul 2024