Wednesday, October 21, 1998
Doreal To Participate In Second Portugal Exploration Well
Doreal Exploration Corporation is pleased to announce that the Aljubarrota No. 2
exploratory well, located near the communities of Aljubarrota and Alcobaca in the
Lusitanian Basin of west central Portugal, plans to spud on or about November 15, 1998.
The wildcat is expected to reach its target of approximately 3,700 meters (12,200 feet)
within 55 to 60 days from spud.
While the major objective is the Silves Formation sandstone of Lower Triassic age, other
geologic objectives will also be evaluated during the drilling of this important wildcat.
Doreal Energy Corporation has a 10.00 percent working interest and a 9.35 percent net
revenue interest in the project. The Operator of the project is Mohave Oil and Gas
Corporation, Houston, Texas. Other partners are those that were originally involved in the
drilling of the Aljubarrota No. 1 and have long been established as major industry players.
This prospect is located on a fault block separate from the much larger 38,000 acre
Aljubarrota structure. The Operator reports that, the Aljubarrota No. 2 well, if productive
in the Silves Formation sandstone, could prove up recoverable reserves of 1-2 trillion cubic
feet of gas, plus over 100 million barrels of oil.
The Aljubarrota No. 2 well is located just 800 meters from a 24inch gas pipeline which
transects the licenses from south to north and has sufficient line capacity for any new
discovery made by the partnership.
On Behalf of the Board of Directors,
James H. Dorman
James H. Dorman
President & CEO |
