Arakis Announces Excellent Results at El Bakh Discovery Well.CALGARY, Alberta--(BUSINESS WIRE)--Nov. 4, 1997--Arakis Energy Corporation (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 : AKSEF), and the Sudan Project Consortium, of which Arakis' wholly-owned subsidiary, State Petroleum Corporation, is a 25 percent participant, today announced excellent test results from its El Bakh discovery well. The El Bakh well, located in the southwest quadrant quadrant, in analytic geometry quadrant. 1 In analytic geometry, one of the four regions of the plane determined by two lines, the x-axis and the y-axis. of the Heglig Development Area, reached a target depth in the Bentiu zone at 2121 meters on September 22, 1997. Testing of two sands in the Bentiu formation confirmed that there is an estimated 17 meters of net pay in this formation. The calculated flow rate of the well from these two sands, at a drawdown Drawdown The peak to trough decline during a specific record period of an investment or fund. It is usually quoted as the percentage between the peak to the trough. Notes: of 10 percent, is in excess of 15,000 barrels of oil per day of 36 degree API (Application Programming Interface) A language and message format used by an application program to communicate with the operating system or some other control program such as a database management system (DBMS) or communications protocol. crude oil. The rigs are currently drilling at two new exploration locations: El Sadeeq and Kerial 1. El Sadeeq is located approximately 25 kilometers northwest of the Heglig Development Block and Kerial 1 is immediately east of the southeast corner of the Unity Development Block. Additional development wells are being drilled at Unity 24 and Heglig 12. The service rig is conducting completion and casing operations at Unity 30. Hamra West has been logged and cased with a possible 21 meters of net pay in the Aradeiba and Ghazal Ghaz´al n. 1. A kind of Oriental lyric, and usually erotic, poetry, written in recurring rhymes. zones. Further testing at Hamra West will be necessary to determine flow rates. Additional drilling and testing results will be reported as available. Arakis has a 25 percent interest in the Sudan concession through its participation in the Sudan Project Consortium comprised of State Petroleum Corporation (25 percent), China National Petroleum Company (40 percent), Petronas Carigali Overseas Sdn Bhd SDN BHD Sendirian Berhad (Malay equivalent to incorporated) (30 percent) and Sudapet Limited (5 percent). CONTACT: Arakis Energy Corporation Kristine Dow, 403/263-2471 investor@arakis.com http://www.arakis.com or Arakis Energy Corporation Ron Burrows Burrows is a provincial electoral division in the Canadian province of Manitoba. It was created by redistribution in 1957, and formally came into existence in the provincial election of 1958. The riding is located in the northern part of Winnipeg. , 403/263-2471 |
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