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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (9664)	3/4/2003 5:45:28 AM
From: Kerm Yerman	Read Replies (3) \| Respond to of 24921

Portfolio Stock / First Calgary Petroleums Ltd. First Calgary Petroleums Ltd. Announces Well & Seismic Updates CALGARY, March 3 /CNW/ - First Calgary Petroleums Ltd. today updated the status of the testing and drilling operations in Algeria as well as future seismic plans. Ledjmet (Block 405b): Production testing of the MLE-2 gas well is progressing very favorably. Two of the six intervals to be tested have flowed at cumulative rates of 29 million cubic feet per day (mmcf/d) of gas and 6,600 barrels per day (bbl/d) of condensate (11,400 barrels oil equivalent per day). Testing of the remaining 4 intervals is proceeding and final results are expected within the next 14 days. MLE-2 is the 2nd well First Calgary has on the Ledjmet block; the 1st well, MLE-1 having tested 43 mmcf/d of gas and 1,745 bbl/d of condensate (8,700 barrels oil equivalent per day) from 3 zones. Further appraisal drilling on the Ledjmet Block is expected to be announced after final test results. Yacoub (Block 406a): The YCB-1 well encountered non-commercial oil in two of the three zones mapped and is being abandoned. The well results are being reviewed and tied to the 3D seismic and the company's future drilling plans for the Yacoub block will then be announced. Seismic: The company has gone to tender for the acquisition of 600 km2 of 3D seismic on each of the Blocks (1200 km2 total). The programs are planned to commence April 2003.