Here's some news:
Scimitar Hydrocarbons Corporation
CALGARY, Nov. 2 /CNW/ - Scimitar Hydrocarbons Corporation is pleased to
announce that it has commenced drilling the first well (Issaran Well No. 10) of a
development drilling program in the Issaran Field, Egypt, on October 31, 1999.
Depending upon drilling results, up to four low risk vertical wells may be
drilled in the program, which is expected to be completed by the end of 1999.
These wells will target the Nukhul Formation at a depth of approximately 2500
ft, and it is expected that the Upper and Lower Dolomite formations will also
be encountered. Production from the new development wells, if successful,
will increase the current field production which has averaged over 750 BOPD
since April 1999. It is expected that preliminary test results for the first
well will be available by the middle of November 1999. All successful wells
will be placed on production immediately after completion.
THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE
INFORMATION CONTAINED HEREIN.
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For further information: Angus A. Mackenzie, President and Chief
Executive Officer or Ms. M. Dalgado, Investor Relations, Tel: 1-800-933-8855,
Tel: (403) 543-0333, Fax: (403) 543-0344, scimitar.ab.ca |
