FPL First Calgary

    First Calgary Petroleums Ltd. announces Operational Update

    CALGARY, Sept. 26 /CNW/ - The following update highlights progress to
date on the MLE Field commercialisation and the Block 405b drilling programme.

    MLE Field Commercialisation

    FCP is in the final stages of commercialisation discussions and remains
on track with its project timeline envisaging approval by the Algerian
authorities of an Exploitation License Application in the second half of 2006,
an engineering, procurement and construction contract in 2007 and first
production in 2009.

    Exploration and Appraisal Operations

    Since the last operations update, released 31 July 2006, FCP has
continued with its active exploration and appraisal programme. The block
reaches the end of its 5-year exploration phase at the end of this year,
following which the part of the block without discoveries will be
relinquished. The retained area will then move into an appraisal period.
    Recent drilling activities have focused on exploring the block prior to
relinquishment in order to maximise retention of the most attractive acreage.
Consequently the 2006 programme targets new, untested exploration areas as
well as remote appraisal locations designed to define the limits of
discoveries.
    In the period from July 2006 the following well operations have been
completed: GSM-1 (cased and tested); GSME-1 (cased); LES-4 (drilled and cased)
and ZER-1 (drilled, cased and tested). Currently, FCP is drilling the
following appraisal wells: MZLS-2; MZLN-2 and MZLN-3. The testing programme
has also started on LES-4.
    Richard Anderson stated, "We have now finalised our operational plans for
the rest of 2006, in the light of results from recent drilling which were the
subject of technical meetings in Algiers, completed last week. In the
north-west of the block, the ZER-1 well tested hydrocarbons at sufficient
rates to support the drilling of a further well on the structure, ZER-2,
located 4.3 km to the SW. The GSM-1 well also recovered hydrocarbons on
testing, although the full significance of the test on the southern part of
Block 405b will be better understood after the testing of GSME-1, scheduled to
commence within the next month. The specific test details for ZER-1 and GSM-1
will be released upon approval from our partner SONATRACH."
    "As a result of our drilling to date, a new core area for future
appraisal and potential development is emerging in the central area of the
block, west of MLE. We plan to drill two further wells in the area before the
end of the year: LES-6 and LEC-2. By the end of the year all attractive
exploration targets will have been drilled and we will have significantly
advanced the appraisal of existing discoveries."
    "Regarding the MLE Field, we continue in discussion on a number of
important areas, which we hope to conclude soon."
    Further appraisal work will be undertaken from the start of 2007, with
the aim of securing the next stage of commercialisation following MLE.

    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: First Calgary Petroleums Ltd., Richard G. Anderson,
President and CEO, Tel: (403) 264-6697 or John van der Welle, Finance Director
and CFO, Tel: +44 (0) 203 043 0270; Website: www.fcpl.ca; Other contacts:
James Henderson, Pelham Public Relations, Tel: +44 (0) 207 743 6673; Carina
Corbett, 4C - Burvale Limited, Tel: +44 (0) 207 907 4761
(FPL FCP.)



END

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