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CE Canada Energy Partners Inc

0.005
0.00 (0.00%)
23 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Canada Energy Partners Inc TSXV:CE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.005 0.005 0.01 0 01:00:00

Canada Energy Partners Retests Second Horizontal Montney Well at Peace River at Double the Initial Rate

21/03/2011 12:30pm

Marketwired Canada


Canada Energy Partners Inc. ("Canada Energy" or the "Company") (TSX VENTURE:CE)
is pleased to report the re-test results for the Portage 3-12 well, the second
horizontal Montney well drilled at Peace River. The original completion and test
of the 3-12 occurred in December 2010 with an end-of-test rate of 1.2 million
cubic feet per day. The well was re-tested in March 2011 for 48 hours yielding a
peak rate of 10 million cubic feet per day ("mmcf/d"), an average rate over the
test period of 4.8 mmcf/d and a stabilized end rate of 2.4 mmcf/d. 


The Portage 3-12 was re-tested as follow-up to the successful re-test of the
Portage c-20-E, as announced by the Company on December 13, 2010. These two
re-tests appear to confirm the benefits of 'resting' a well for an extended
period after initial completion, after which flow capacity improves (see
December 13, 2010 news release for technical detail).


In industry news, on March 18th Encana announced their acquisition of a 30%
interest in the Kitimat LNG Project. The Company believes that this LNG Project
will have a positive long-term impact on gas prices in Western Canada by the
creation of additional markets and the consequential narrowing of West-to-East
price differentials.


Canada Energy is an active oil and gas exploration and development company. The
Company possesses a large concentrated land position in a high-impact,
multi-zone, natural gas-bearing area in northeast British Columbia.


On behalf of the Board of Directors of Canada Energy Partners Inc.

John Proust, Chairman

Forward Looking Statements: This news release contains forward looking
statements relating to expected or anticipated flow rates, timing for drilling
and completion operations, future events and operations, number of wells to be
drilled, timing of projects and anticipated results that are forward looking in
nature and, as a result, are subject to certain risks and uncertainties, such as
general economic, market and business conditions, the regulatory process and
actions, technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential delays or
changes in plans, the occurrence of unexpected events, and the company's
capability to execute and implement future plans. Actual results achieved may
vary from the information provided herein as a result of numerous known and
unknown risks and uncertainties and other factors. There is no representation by
the company that actual results achieved during the forecast period will be the
same in whole or in part as that forecast.


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