FIELD ACTIVITIES / Danoil Energy and Scimitar Hydrocarbons -
Second Deep Basin Exploration Well Spuds
TSE, ASE SYMBOL: DAN.A
AND SCIMITAR HYDROCARBONS CORPORATION
ASE SYMBOL: SIY
NYSE SYMBOL: SHYCF
MAY 13, 1998
CALGARY, ALBERTA--Danoil Energy Ltd. (TSE/ASE: DAN.A) and Scimitar
Hydrocarbons Corporation (ASE:SIY) are pleased to announce the
spudding on May 6, 1998, of the second well of a two-well deep
exploration program in the Deep Basin area of British Columbia and
Alberta.
Shell Canada Limited is the operator for the joint venture group,
which is comprised of Shell, Danoil, Scimitar, and an undisclosed
private company, with each representing a 25 percent working
interest.
The well, located in the northeastern British Columbia portion of
the Deep Basin, is being drilled to a planned total depth of
approximately 5,150 meters. The well is under tighthole status
and has an expected drill time of approximately 3 to 4 months. In
the advent of a commercial discovery, Danoil and Scimitar will
reimburse Shell for prior exploration expenditures related to the
project, and undertake follow-up development drilling and further
area exploration.
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