A 30 day delay. Too bad....
Centurion Energy Announces Drilling Update for Tunisia and Egypt
08:02 GMT-04:00 Thursday, April 05, 2001
CALGARY, ALBERTA--Centurion Energy International Inc. (TSE: CUX) announces that drilling of the Al Manzah 3
well in Tunisia has been temporarily suspended due to drilling rig equipment failure. The well had reached 980 metres in
the transition zone just above the top of the target Bou Dabbous reservoir. The projected total depth of the well is 1,500
metres.
The drill string became stuck in the hole as a result of drilling rig equipment failure. Many attempts to retrieve the complete
drill string and associated downhole tools were unsuccessful. As a consequence, the lower portion of the wellbore had to
be cemented. Centurion is expecting to utilize the top 300 metres of the existing wellbore once drilling operations resume.
The rig repairs are underway with completion expected within 30 days. Drilling is anticipated to resume as soon as the rig
becomes operational.
Meanwhile, in Egypt, Centurion is progressing with development plans for the El Wastani field. A drilling rig, which has
been contracted for three wells with an option to drill four additional wells in Egypt, is scheduled to spud the first well, East
El Wastani, in mid-April. Upon completion of the first well, the rig is scheduled to move to the Abu Monkar area, in the
south of the concession, to drill two further exploration wells.
Certain statements in this News Release constitute "forward looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward looking statements involve risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the Corporation to be materially different from any
future results, performance or achievements expressed or implied by such forward looking statements. © 2001 Canadian
Corporate News Inc. |
