FPL First Calgary

    First Calgary Petroleums Ltd. commences drilling ZCH-2 on Block 406a

 

    CALGARY, Sept. 21 /CNW/ - First Calgary Petroleums Ltd. ("FCP" or the

"Company") announces that drilling has commenced on the ZCH-2 appraisal well

on Rhourde Yacoub Block 406a in Algeria. The well is located approximately  

3 kilometres northeast of the ZCH-1 exploration well and is designed to test

and appraise the up-dip extension of the multiple hydrocarbon zones discovered

in ZCH-1. ZCH-2 has a projected total depth of 3,800 metres and is expected to

take 40 days to drill and log.

    The ZCH-1 discovery well was drilled in 2004 on a seismically mapped

structure in the southeastern corner of Block 406a and encountered multiple

light oil reservoirs and multiple gas reservoirs with high yields of

associated condensates. The ZCH-1 cumulative initial production test rates

were 8,545 barrels per day of hydrocarbon liquids (6,376 barrels of light oil

and 2,169 barrels of condensate) and 56.2 million cubic feet per day of

natural gas from several geologic zones at various wellhead flowing pressures.

 

    First Calgary Petroleums Ltd. is an oil and gas exploration company

actively engaged in 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. First Calgary Petroleums Ltd. 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: James Henderson, Pelham Public Relations, Tel: +44 (0) 207 743 6673;

Carina Corbett, 4C - Burvale Limited, Tel: +44 (0) 207 907 4761

    (FCP. FPL)

 

 

 

 

 

 

 

 



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