First Calgary Petroleum Ltd. (FCP) provides an operations update on successful appraisal testing in the Central Area of Block 405b, referred to as the Central Area Field Complex (CAFC). The LES-4 and MZLN-2 wells combined flowed 21,303 barrels oil equivalent per day (boepd) on a normalized flow rate consisting of 13,161 barrels of oil plus condensate per day and 48.9 million cubic feet of gas per day. The MZLS-2 well had a successful normalized flow of 206 boepd and the GSME-1 well resulted in hydrocarbons being tested at non-commercial flow rates.
LES-4 appraisal wellbore flowed 12,036 boepd consisting of 8,310 barrels oil and condensate per day and 22.4 million cubic feet gas per day in addition to defining the pool boundaries for the Tagi and Lower Devonian on the LES structure.
MZLN-2 well flowed 9,267 boepd consisting of 4,851 barrels condensate and 26.5 million cubic feet gas per day. The MZLN-2 wellbore defines two new pool discoveries that relate to a newly defined structural block. Further appraisal work is planned based on the new pool discoveries.
MZLS-2 appraisal well flowed gas and condensate from the Tagi formation, representing a new pool discovery in addition to defining the western flank limit of the Lower Devonian pool discovered in MZLS-1
GSME-1 well confirmed the hydrocarbon saturation within a Lower Devonian stratigraphic play, southward to the Block boundary and is being considered for future appraisal work.
Richard Anderson, President and CEO commented: "The latest test results continue to confirm FCP's mapping and affirm the assessment of the resource potential of not only the CAFC but the entire Block. To date, in the CAFC only, FCP has cased and tested 13 wells with cumulative normalized flow rates exceeding 176,000 boepd. These wells combined with the 6 wells in the MLE field result in cumulative normalized test flow rates for the 19 cased wells on the Block of approximately 275,000 boepd consisting of over 1 billion cubic feet of gas per day and 104,000 barrels of oil and liquids per day. FCP continues to move towards the integration of the CAFC development into the MLE development with an aggressive appraisal work programme throughout 2007."
