FIELD ACTIVITIES / First Calgary Petroleums Ltd updates Tunisia Well
CALGARY, March 13 /CNW/ - First Calgary Petroleums Ltd, (''FCP'')
released today the following report on the status of the company's testing
program an the Sud Nefta exploration permit in West Central Tunisia.
The exploration well, Nefta 1, reached final total depth of 4,675 meters
on January 23, 1998. The drilling and logging operations identified several
zones of interest with potential for commercial hydrocarbon reserves in the
Jurassic, Triassic and Cambrian. The well was cased and tests through
perforations were carried out in the lower and upper Cambrian and Lower
Triassic zones. The tests in the Cambrian encountered formation water with
gas too small to measure while the test in the Lower Triassic also encountered
water with traces of light oil.
At the end of the third test, mechanical difficulties resulted in the
test string being stuck in the hole. After several unsuccessful attempts to
retrieve the tools the Corporation has made the decision to suspend the well
to allow the drilling rig to be moved to Bazma 1, an exploration wildcat well
in Central Tunisia, to test a Lower Permian Reef prospect on the Bazma Permit.
After further geological and engineering evaluation the Corporation will
decide on any future testing program at the Nefta 1 site.
FGP has a 10% working interest in the Sud Nefta Permit and a 20% interest
before casing point / 15% interest after casing point in the Bazma well and
Permit.
FCP is an international oil and gas company listed on the Toronto Stock
Exchange, trading under the symbol ''FCP''.
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