FIELD ACTIVITIES / International Rochester Energy: Drilling Begins
on Canacabare No. 1 Well on the Anteojos Prospect
Standard & Poor's Listed
TSE SYMBOL: ROH
MARCH 12, 1998
VANCOUVER, BRITISH COLUMBIA--International Rochester Energy
announces that drilling operations have begun on the Canacabare
No. 1 exploratory well (Anteojos prospect) located on the
Alcaravan contract acreage in the Llanos Basin of Colombia.
The well is expected to reach a total depth of approximately 9,000
feet and should take 25 days to drill with an additional 20 days
or so to test and evaluate. The well is designed to evaluate the
four oil-prone zones prevalent in the Llanos Basin; the Carbonera,
Guadalupe, Mirador and Ubaque. Rochester owns a 25 percent
beneficial interest in this well and prospect.
The rig being used for drilling Canacabare No. 1 was moved from
the Estero No. 3 well site. The operator, Harken Energy, has
advised that testing operations on the Estero No. 3 well will now
commence using a work over rig. Approximately 30 days will be
required to test the commercial potential of the Paleozoic,
Ubaque, Guadalupe and Mirador formations.
Mr. Philip Walsh, President, also announces that Mr. John Yu,
P.Eng, has joined the Company as Vice President, Technical
Services. Mr. Yu will provide expertise in reservoir engineering,
oil and gas property evaluations for the purpose of acquisitions,
and the exploration and development of the Company's Alcaravan and
Miradores Contracts in Colombia. He has over 23 years experience
in domestic and international onshore and offshore drilling,
completion, and production operations.
Rochester Energy is a Canadian based oil and gas exploration
company and is participating in the exploration and development of
the 210,000 acre Alcaravan Association Contract and the 32,000
acre Miradores Association Contract located in the Llanos Basin of
Central Colombia. The Company is also pursuing other, high
potential, international oil and gas exploration opportunities. |
