First Calgary Petroleums Ltd. Operations Update

    TSX: FCP
    AIM: FPL

    CALGARY, Sept. 25 /CNW/ - First Calgary Petroleums Ltd. (FCP or the
Company) is pleased to provide an update of its drilling and testing
activities in partnership with Sonatrach on Ledjmet Block 405b in Algeria.
    Testing has now been completed on 4 additional wells exhibiting 9 main
reservoirs with cumulative results reported on a normalised flow rate of
40,167 barrels of oil equivalent per day (boepd) made up of 24,416 barrels of
oil plus condensate per day and 94.4 million cubic feet (mmcf) of gas per day.
This now brings the total number of wells tested on Block 405b to 25 with
cumulative normalised results of 324,267 boepd.
    An additional 5 wells are waiting on the completion of testing and/or
stimulation programmes and 1 well is currently drilling.
    The Company also reports that the MLE field development work is on
schedule with the Front End Engineering and Design work approximately 50%
complete.
    Richard Anderson, President and CEO commented:
    "All FCP's recent drilling and testing activities are located in the
central area and ZER area on Block 405b. The purpose of this drilling and
testing programme is to complete the delineation of the Field pools prior to
filing a development plan early in 2008. FCP is extremely pleased with the
results to date in that the Company continues to add gas/condensate reserves
in the central area which are complementary to the already established MLE
field reserves. As well, the Tagi oil/gas/condensate pools are developing into
significant fields in the central area which will become a second major anchor
development project. Being mostly oil and liquids, the TAGI pools are
transforming Ledjmet Block 405b into both an oil and gas area."

    Detailed Test Information
    -------------------------
    The normalised (stabilized(x)) test rates from the individual results are
summarized as follows:

    LEC-2:    10,140 boepd from two zones
    -   the TAGI zone tested 8,879 (3,525(x)) boepd comprised of 30.4
        (12.07(x)) mmcf of gas per day plus 3,812 (1,513(x)) barrels of
        condensate per day at a depth of 3304 meters
    -   the Upper Devonian zone tested 1,261 (1,490(x)) boepd comprised of
        6.2 (7.34(x)) mmcf of gas per day plus 228 (268(x)) barrels of
        condensate per day at a depth of 3476 meters

    LES-6:    17,142 boepd from two zones
    -   the TAGI zone tested 15,998 (3,638(x)) boepd comprised of
        12,413 (2,823(x)) barrels of 40 degree API oil per day plus
        21.5 (4.89(x)) mmcf of gas per day at a depth of 3432 meters
    -   the Lower Devonian zone tested 1,144 (1,252(x)) boepd comprised of
        541 (574(x)) barrels of condensate per day plus 3.6 (4.07(x)) mmcf of
        gas per day at a depth of 4363 meters

    MZLN-3:   5,208 boepd from two zones
    -   the Lower Devonian zone tested 4,505 (3,089(x)) boepd comprised of
        22.1 (15.09(x)) mmcf of gas per day plus 822 (574(x)) barrels of
        condensate per day at a depth of 4342 meters
    -   the Lower Devonian zone tested 703 (1,174(x)) boepd comprised of
        3.1 (5.1(x)) mmcf of gas per day plus 190 (324(x)) barrels of
        condensate per day at a depth of 4310 meters

    ZER-2:    7,677 boepd from three zones
    -   the TAGI zone tested 551 (665(x)) boepd comprised of 431 (551(x))
        barrels of 44 degree API oil per day plus 0.7 (0.684(x)) mmcf of gas
        per day at a depth of 4017 meters
    -   the Lower Devonian zone tested 745 (762(x)) boepd comprised of
        638 (654(x)) barrels of 44 degree API oil per day plus 0.6 (0.65(x))
        mmcf of gas per day at a depth of 4169 meters
    -   the Lower Devonian zone tested 6,381 (3,333(x)) boepd comprised of
        5,341 (2,823(x)) barrels of 44 degree API oil per day plus 6.2
        (3.06(x)) mmcf of gas per day at a depth of 4380 meters

    (x) Stabilized flow rate as the flow resulting from the test operation
        (choke 32/64").

    In all cases, the fluids produced during testing were sweet
(non-sulphurous).

    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. Testing results may not be indicative of future production
rates.
    Normalised flow rate for oil zones are defined as the flow resulting from
a calculated 2000 psia bottom hole flowing pressure equivalent of the final
flowing pressure from the actual test.
    Normalised flow rate for gas condensate zones are defined as the flow
resulting from a calculated 2000 psia flowing tubing head pressure equivalent
of the final surface flowing pressure from the actual test.
    Barrels of oil equivalent have been converted using a conversion ratio of
6 thousand cubic feet of gas to 1 barrel of oil equivalent, which is based on
an energy equivalency conversion method primarily applicable at the burner tip
and does not represent a value equivalency at the wellhead. Using oil
equivalent units may be misleading, particularly if used in isolation.
    In accordance with AIM requirements, Mr. Shane O'Leary, Chief Operating
Officer of FCP, P.Eng., 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; Other Contacts: James
Henderson, Pelham Public Relations, Tel: +44 (0) 20 7743 6673 Carina Corbett,
4C - Burvale Limited, Tel: +44 (0) 20 7559 6710; Nominated Adviser: John
Wilkes, David Nabarro, Nabarro Wells & Co. Limited, Tel + 44 (0) 20 7710 7400
(FPL)




END
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