FIELD ACTIVITIES / Doreal Energy: Colombian Exploration Update -
Mateguefa No. 1 Well Set to Spud on Tapir Association Contract
STANDARD AND POOR'S LISTED
ASE SYMBOL: DOY
OTC Bulletin Board SYMBOL: DEG.CF
FEBRUARY 10, 1998
VANCOUVER, BRITISH COLUMBIA--Doreal Energy Corporation is pleased
to announce that the Mateguefa no. 1 exploration well will spud on
February 25, 1998.
The Mateguefa Prospect and well location is located on a north-
south trending, upthrown fault block which is seismically well
defined. Multiple objectives are anticipated which include the
Oligocene Carbonera sandstones, the Eocene Mirador sandstones and
the Cretaceous Guadalupe, Gacheta and Ubaque sandstone intervals.
All these objectives have excellent reservoir qualities and are
productive in surrounding fields. These intervals also produce in
the earlier Cusiana-Cupiagua and Cano Limon discoveries.
The well is expected to drill to a total depth of approximately
10,000 feet with the estimated drilling time to be 20 days.
The Mateguefa Prospect is the first of six structural exploration
prospects to be tested on the Association Contract. In addition,
there are three stratigraphic prospects and one re-entry prospect
on the Contract that will be tested in the future.
Joint Venture working interest partners in the Mateguefa no. 1
well and the Tapir Association Contract are Mobil Oil Company
(through its ownership of Ampolex Petroleum Ltd.), Doreal Energy
Corporation, Seven Seas Petroleum Inc. (GHK), Mohave Oil and Gas
Corporation and Heritage Minerals Ltd., Bogota. Heritage is
Operator for the group.
On Behalf of the Board of Directors,
James H. Dorman, President and CEO |
