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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
First Calgary | LSE:FPL | London | Ordinary Share | CA3193843016 | COM SHS NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 175.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Attention Business Editors: First Calgary Petroleums commences drilling of fifth well on Block 405b in Algeria TSX: FCP LSE: FPL CALGARY, Dec. 15 /CNW/ - First Calgary Petroleums Ltd. (FCP) today announced that drilling operations have commenced on the MLE-5 appraisal well on the company's Ledjmet Block 405b in Algeria. The MLE-5 well, a 4550 metre test, is the fifth well located on the Menzel Ledjmet East (MLE) gas and condensate field. The well is located 1.3 km east of the MLE-3 gas well which tested 24,743 barrels oil equivalent per day. The MLE-5 well is particularly significant in that it will test a separate structural block which extends across the eastern side of the field. A successful well in this location has the potential to add significant reserves to the MLE field. FCP also advised it will commence a 40 day production test on the recently completed MLE-4 well in early January, 2004. The MLE-4 well, located 4.9 km south of the MLE-3 gas well, was a successful appraisal of the southerly extent of the MLE Field and encountered at least five hydrocarbon- bearing zones with cumulative net pay over 56 meters. A further 33 meters of potential pay was encountered in a deeper horizon. This horizon has not been tested so far in the MLE Field but will be included in the upcoming testing programme. FCP further advised that following the company's recent acquisition of 600 sq. km of 3D seismic data to the immediate west of the MLE Field, the company is contracting a second drilling rig for early January 2004. The first location to be drilled with this rig will be the LEC-1 well which will be followed by at least seven additional exploration and appraisal locations. FCP is an oil and gas exploration 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 AIM 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 FCP currently foresees. -0- 12/15/2003 /For further information: Richard G. Anderson, President and CEO, First Calgary Petroleums Ltd., Tel: (403) 264-6697, Website: www.fcpl.ca; European contact: James Henderson, College Hill, Tel: +44 (0) 207 457 2020; Carina Corbett, 4C Communications Ltd., Tel: +44 (0) 207 907 4761/ END
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