The MZLS-2 well had a successful normalized flow of 206 boepd and the GSME-1 well resulted in hydrocarbons being tested at non-commercial flow rates. The well tests are summarized and included in a table below:
- LES-4 appraisal wellbore flowed 12,036 boepd consisting of 8,310 barrels oil and condensate per day and 22.4 million cubic feet gas per day in addition to defining the pool boundaries for the Tagi and Lower Devonian on the LES structure.
- MZLN-2 well flowed 9,267 boepd consisting of 4,851 barrels condensate and 26.5 million cubic feet gas per day. The MZLN-2 wellbore defines two new pool discoveries that relate to a newly defined structural block. Further appraisal work is planned based on the new pool discoveries.
- MZLS-2 appraisal well flowed gas and condensate from the Tagi formation, representing a new pool discovery in addition to defining the western flank limit of the Lower Devonian pool discovered in MZLS-1
- GSME-1 well confirmed the hydrocarbon saturation within a Lower Devonian stratigraphic play, southward to the Block boundary and is being considered for future appraisal work.
Richard Anderson, President and CEO commented: "The latest test results continue to confirm FCP's mapping and affirm the assessment of the resource potential of not only the CAFC but the entire Block. To date, in the CAFC only, FCP has cased and tested 13 wells with cumulative normalized flow rates exceeding 176,000 boepd. These wells combined with the 6 wells in the MLE field result in cumulative normalized test flow rates for the 19 cased wells on the Block of approximately 275,000 boepd consisting of over 1 billion cubic feet of gas per day and 104,000 barrels of oil and liquids per day.
FCP continues to move towards the integration of the CAFC development into the MLE development with an aggressive appraisal work programme throughout 2007."
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.
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. -- www.tsx.com
Posted February 9th, 2007 by ruzik_tuzik
