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Gold/Mining/Energy : KERM'S KORNER
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To: SofaSpud who wrote (13246)11/5/1998 9:51:00 PM
From: Kerm Yerman  Read Replies (3) of 15196
 
FIELD ACTIVITIES / Naftex Energy Corporation announces Abu Marwa North-1
reached its final depth

VANCOUVER, Nov. 5 /CNW/ -
Naftex Energy Corporation
Trading Symbol: NFTX

NAFTEX ENERGY CORPORATION (the ''Company'') reports that the well Abu
Marwa North-1 reached its final total depth of 6450 feet in Basement rocks
with some shows that were not confirmed later by electric logs to justify
testing. The decision was taken to plug and abandon the well. Consequently,
the rig Santa Fe 169 was mobilized to the well Rabeh-1 for a workover job to
remedy the water problems coming out with the oil produced. The rig was on
Rabeh-1 location on November 3rd to start the job.

It is planned to squeeze cement into the lower Nukhul zone and
re-perforate the upper two zones for clean oil production. This job, which is
expected to be completed in a few days, will be followed by another
workover/re-completion of the well Rabeh-2 before moving to Rabeh-3 location.
The Work Program is set this way in order to boost the production rate before
continuing the exploration drilling program.

The Operator of the WEEM Concession is ESHPETCO, a joint venture,
operating company set up between Coplex (Egypt) Limited, Cabre Exploration
(Cyprus) Limited (''Cabre'') and the EGPC to conduct operations on the WEEM
Concession. The Company and Cabre each beneficially own a 50% interest in the
WEEM Concession.
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