First Calgary Petroleums commences drilling on Block 405b in Algeria
Drilling has commenced on MLE-3 well, on First Calgary Petroleums Ltd. (FCP)'s Ledjmet Block 405b in Algeria. Results from this well will further appraise natural gas and condensate discoveries made by the MLE-1 and MLE-2 wells, according to a press release issued by the Canadian oil firm.
The MLE-3 well is located 3.7 kilometers east from the recently drilled MLE-2 well—in which production tested 189 million cubic feet of gas per day and 12,874 barrels of condensate per day—and has a planned depth of 4,450 meters.
The well operations will take approximately 61 days to drill, log, case and complete. An extensive production-testing program is planned following the release of the drilling rig. Subsequent to drilling the MLE-3 well, FCP plans to drill two additional delineation wells on the MLE structure.
An independent engineering assessment of the reserves recently estimated gross proven, probable and possible natural gas reserves of more than 5.7 trillion cubic feet equivalent (TCFe), of which 708 billion cubic feet of natural gas equivalent is proven and 2.39 TCFe is proven plus probable. The drilling of the three delineation wells will provide further assessment of the reserves in the above categories.
First Calgary Petroleums Ltd. is a Canadian oil and gas exploratory company that is actively engaged in international exploration and development activities, primarily in North Africa. The company's common shares trade on the Toronto Stock Exchange in Canada (FCP) and on the Alternative Investment Market of the London Stock Exchange in the UK (FPL). — (menareport.com)
© 2003 Mena Report (www.menareport.com)