News. SIY keeps doing better. Wish the stock would too !!
Scimitar Hydrocarbons Corporation
4/7/00 -
Spudding of Well #13 Issaran Field, Egypt
SCIMITAR HYDROCARBONS CORP ("SIY-V;SHYCF-L") - Spudding of Well #13 - Issaran Field, Egypt
Mr. Angus A. Mackenzie, Chairman of the Board of Directors and Chief Executive Officer of Scimitar Hydrocarbons Corporation is pleased to announce the spudding of the Issaran Well #13, the fourth well of the current ongoing development drilling program in the Issaran Field, Egypt. This well is an offset to the Issaran Well #8 currently producing 325 BOPD and the Issaran Well #10 producing 275 BOPD.
Presently, Scimitar's current average daily production from the Issaran oilfield is 1240 BOPD.
The drilling of the Issaran Well #13 commenced on April 6, 2000 and it is expected to reach the projected total depth of 2150 ft. within 10 days. Upon successful results, the well will be completed and placed on production immediately after the drilling rig has been removed. Thereafter the rig will be moved directly to the Issaran Well #14 location, the fifth well of the ongoing drilling program.
Scimitar has the exclusive right to develop and produce heavy oil from its 100% interest in the Issaran oilfield which comprises an area of approximately 75 square kilometers.
APPOINTMENT OF A NEW DIRECTOR TO THE BOARD OF SCIMITAR
Mr. Angus A. Mackenzie, Chairman of the Board of Directors and Chief Executive Officer of Scimitar Hydrocarbons Corporation is pleased to announce the appointment of Mr. James S. Palmer, C.M., Q.C., to the Board of Directors of the Corporation. Mr. Palmer is the Chairman of Burnet Duckworth & Palmer, a law firm in Calgary, Alberta. TEL: (403) 543-0333
Angus A. Mackenzie, Chairman and CEO FAX: (403) 543-0344
Ms. M. Dalgado, Investor Relations TOLL FREE: 1-800-933-8855 INET : scimitar.ab.ca |
