Abacan successfully tests Ngo No. 6 well.CALGARY, ALBERTA--(BUSINESS WIRE)--June 26, 1997--Abacan(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. ., NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on ABACF.) Abacan Resource Corporation (TSE:"ABC", NASDAQ:"ABACF") today announced test results on its Ngo #6 offshore well, an exploration well located to the north of the Ngo Field in the Niger Delta The Niger Delta, the delta of the Niger River in Nigeria, is a densely populated region sometimes called the Oil Rivers because it was once a major producer of palm oil. . The well was drilled to a true vertical depth of 12,350 feet (3,765 metres) and tested at a cumulative flow rate of 6,300 bbl/d of oil and condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. with associated gas. NGO No. 6 TO BE PLACED ON PRODUCTION The well confirms new hydrocarbons north of the Company's Ngo Field and it will be tied into existing Ngo Field production facilities within approximately ten days. The Company is continuing its development drilling program on the Ngo Field. Certain statements in this News Release constitute "forward looking statements" within the meaning of the Private Securities Litigations Reform Act of 1995. Such forward looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. CONTACT: Abacan Resource Corporation James Harvie, 403/262-1220 |
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