Calvalley Petroleum Inc. announces second successful re-entry.CALGARY, Alberta--(BUSINESS WIRE)--Nov. 1, 1996--Calvalley Petroleum Inc. (ME CVI CVI C (Language) Virtual Instrument CVI Clinical and Vaccine Immunology (journal) CVI Chronic Venous Insufficiency CVI Coastal Vulnerability Index CVI Canaan Valley Institute .A.) a Calgary-based oil and gas exploration and development company, is pleased to announce that the horizontal re-entry RE-ENTRY, estates. The resuming or retaking possession of land which the party lately had. 2. Ground rent deeds and leases frequently contain a clause authorizing the landlord to reenter on the non-payment of rent, or the breach of some covenant, when the of a second well in the Alameda Alameda (ăləmē`də, –mā`də), city (1990 pop. 76,459), Alameda co., W central Calif., on an island just off the eastern shore of San Francisco Bay; settled 1850, inc. as a city 1884. area of southeastern Saskatchewan has been successfully completed. This well is located in the same vicinity as the successful well referred to in the Company's press release of October 21, 1996. The well was extended to a total depth of 1,700 metres of which 300 metres was the horizontal section. Following drilling, the well was tested at a flowing rate of 140 cubic meters Noun 1. cubic meter - a metric unit of volume or capacity equal to 1000 liters cubic metre, kiloliter, kilolitre metric capacity unit - a capacity unit defined in metric terms (875 bbls) per day of oil and 37,000 cubic meters (1.3 million cubic feet) per day of natural gas, through a 1/2" choke (jargon) choke - To fail to process input or, more generally, to fail at any endeavor. E.g. "NULs make System V's "lpr(1)" choke." See barf, gag. . The first horizontal re-entry as reported on October 21, 1996 press release was stabilized at a production rate of 100 cubic meters (623 barrels) per day and 23,000 cubic meters (0.8 million cubic feet) per day of natural gas. Calvalley owns a 100 percent interest and operates these horizontal wells and the associated treating and storage facilities. Production from these new wells is currently restricted by capacity limitations in the existing oil treating facilities. Calvalley will expand the facilities to accommodate the full production capability of these and future development wells the Company has identified based on its 3-D seismic program. Calvalley holds the mineral rights to approximately 25,000 net acres of land in southeastern Saskatchewan of which less than 5 percent has been developed to date. Calvalley is an oil and gas exploration, development and production company listed on the Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg . CONTACT: Calvalley Petroleum Inc. Martin Zimmerman, 403/ 297-0490 |
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