FPL First Calgary

    First Calgary Petroleums Ltd. announces Exploration and Appraisal Update

    TSX: FCP
    LSE: FPL

    CALGARY, Oct. 25 /CNW/ - First Calgary Petroleums Ltd. (FCP) announces
the following update on its exploration and appraisal activities on Ledjmet
Block 405b.
    Further to the operational update announced on September 26, 2006 and
following receipt of Algerian approvals, FCP provides production test details
for the GSM-1 exploration well:

   
    GSM-1:

        -  New oil pool discovery in the Devonian F6-1 zone at a depth of
           4176 metres.
        -  Tested oil from the F6-1 zone at 1321 barrels of oil per day
           (BOPD) and 1.1 million cubic feet (MMCF) of gas per day with a
           32/64 inch choke setting. The wellhead flowing pressure was 810
           psig. The oil gravity is 46 degrees API. The normalized rate(1) is
           1714 BOPD. Additional appraisal activity is required to establish
           ultimate potential.
        -  Gas and condensate show in Devonian F6-2 at a depth of
           4280 metres.
        -  F6-2 zone tested a minor inflow of gas and condensate. This test
           potentially delineates the down-dip limit to a new pool that will
           be considered for further drilling during the appraisal period.

    Other Activity

    FCP continues its drilling and testing programmes on the Block. The
following summarizes the status of operational activities:

        -  ZER-1:   test details:

                    Tested oil from the Devonian F6-1 zone at a depth of
                    4248 metres at 452 BOPD and 0.66 MMCF of gas per day with
                    a 48/64 inch choke setting. The wellhead flowing
                    pressure was 95 psig with a normalized(1) rate of
                    380 BOPD. The oil gravity is 44 degrees API.

        -  GSME-1:  testing complete; results under evaluation.

                    FCP has recently finished the testing programme on this
                    well. Tests were conducted on two separate intervals. FCP
                    is currently evaluating the test results, after which a
                    decision on the prospectivity of the structure as part of
                    an appraisal programme will be made.

        -  LES-4:   testing continuing.

                    FCP is currently testing LES 4 with a programme designed
                    to evaluate a combined total of 33 metres in 5 tests over
                    4 geological horizons.

        -  MZLS-2:  drilled, logged and cased; testing underway.

                    FCP has recently initiated a testing programme to
                    evaluate a combined total of 12 metres, with 2 tests over
                    2 geological horizons.

        -  MZLN-2:  drilled, logged and cased; awaiting testing.

                    FCP is currently planning a testing programme to evaluate
                    a combined total of 33 metres, with 6 tests over
                    4 geological intervals.

        -  MZLN-3:  currently drilling; Triassic TAGI and Lower Devonian
                    targets.

        -  ZER-2:   currently drilling; TAGI and Lower Devonian targets.

        -  LES-6:   drilling rig is currently moving to the well location;
                    drilling anticipated to commence in November.

    (1) The normalized test rate is 2000 psia flowing bottom hole pressure
        for oil wells.
   

    President and Chief Executive Richard Anderson commented, "In the
north-western part of the block, the ZER-1 test results indicate that there
are producible hydrocarbons in the structure. Based on this information FCP is
drilling a follow up well, ZER-2, located 4.3 km to the SW, to evaluate the
potential in the ZER area.
    "Towards the southern boundary of 405b, our test results from GSM-1 also
indicate producible hydrocarbons in the structure, with good reservoir
quality, but additional appraisal activity is required to establish ultimate
potential. Following the GSME-1 well, further technical analysis of the
southern area is ongoing.
    "In the Central Area of 405b our aggressive drilling programme continues
and is on track with our 2006 plan which we outlined in last month's
operational update."
    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).

    Notes:

    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.
    In accordance with AIM requirements, Mr. Shane O'Leary, Chief Operating
Officer of FCP, BSc., MBA, has reviewed and approved the inclusion of the
technical information contained herein. Mr O'Leary is a member in good
standing of the Association of Professional Engineers, Geologists and
Geophysicists of Alberta (APEGGA) and has 27 years experience working in a
professional capacity in oil and gas exploration and production.


For further information: contact First Calgary Petroleums Ltd.: Richard G.
Anderson, President and CEO, Tel: (403) 264-6697; John van der Welle, Finance
Director and CFO, Tel: +44 (0) 203 043 0270; Other contacts: Jonathan Naess,
Nabarro Wells & Co Limited, Tel + 44 (0) 207 710 7400; 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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