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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 on Block 405b in Algeria TSX:FCP LSE: FPL CALGARY, June 16 /CNW/ - First Calgary Petroleums Ltd. (FCP) today announced drilling has commenced on the MLE-3 well on the company'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. The MLE-3 well is located 3.7 kilometres east from the recently drilled MLE-2 well (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 m. 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). 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. For further information: Richard Anderson, President and CEO, First Calgary Petroleums Ltd., Tel (403) 264-6697, European contact: Carina Corbett, Tel +44 (0) 20 7907 4761, Website: www.fcpl.ca (FCP.) END
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