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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (58241)	1/11/2000 9:44:00 AM
From: The Ox	Read Replies (1) \| Respond to of 95453

Kyle Field Extended Well Test CALGARY, Jan. 11 /CNW-PRN/ - Ranger Oil Limited announces that it has entered into an agreement, subject to the U.K. Department of Trade and Industry's consent and consideration of the Environmental Statement, with PGS for the provision of the Petrojarl 1 floating production storage and offloading (FPSO) vessel to perform an extended well test (EWT) for the continuing appraisal of the Kyle field in the North Sea. Production from the EWT is expected to be in excess of 10,000 barrels per day, commencing in May or June 2000 for a period of 4-5 months. The Kyle field was discovered by Mobil in 1993. Between 1996 and 1997, Ranger acquired a 40 percent interest and became Operator. So far, Ranger has drilled the 29/2c-12z horizontal well and performed a very successful short-term test that produced at a rate of around 10,000 barrels per day, limited by the testing facilities on the drilling rig. The EWT was originally planned to be performed by the PGS-owned Ramform Banff FPSO vessel, but this has been prevented by operational difficulties which have delayed the project. Utilizing the Petrojarl 1 for the EWT allows the original plan to proceed and will provide valuable information to enable optimal development of the Kyle reserves. Subsequent phases include the drilling of a further appraisal well and the development wells. Various options are under investigation for the development of Kyle following the EWT, including the use of the Ramform Banff. The Kyle participants are Ranger (40.0%), Premier Pict Petroleum Limited (35.0%), ROC Oil (UK) Limited (11.25%), Bow Valley Petroleum (UK) Limited (11.25%) and Croft Exploration Limited (2.5%). Issued by: F.J. Dyment President and Chief Executive Officer SOURCE Ranger Oil Limited CO: Ranger Oil Limited ST: Alberta IN: OIL SU: 01/11/2000 08:41 EST prna0086nyydj