Camberly Energy Ltd. updates its activities on the company's 75,000 acre Carmel Coast Petroleum Licence in Israel.CALGARY, Alberta--(BUSINESS WIRE)--April 15, 1997--Camberly Energy Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CEL CEL Cellular CEL Celestial CEL Check Engine Light CEL Degrees Celsius (temperature) CEL Comisión Ejecutiva Hidroeléctrica del Río Lempa (El Salvador) CEL Center for Entrepreneurial Leadership ) updates its activities on the Company's 75,000 acre Carmel Coast Petroleum Licence in Israel in preparation for the drilling of the Nahal Me'Arot No. 1 well. Nahal Me'Arot No. 1 -------------------- The seismic program undertaken for the Nahal Me'Arot No. 1 well was completed on April 5, 1997. The project was delayed slightly due to heavy rainfall in the area. Preliminary analysis of the diagonal seismic lines has enhanced the definition of the structure to the east and west of the original north-south seismic line. These lines have confirmed the eastern and western extension of the anticlinal-type structure shown on the original north-south seismic line. The structure is sealed with shale shale, sedimentary rock formed by the consolidation of mud or clay, having the property of splitting into thin layers parallel to its bedding planes. Shale tends to be fissile, i.e., it tends to split along planar surfaces between the layers of stratified rock. and dips to the southwest and northeast. The three seismic lines confirm that there is over 200 meters of closure from the crest of the structure to the northern fault and that the structure turns over from its crest towards the east. These factors increase the probability of encountering oil in the Nahal well. The partners will be cash called by April 23, 1997 to fund the drilling of the Nahal Me'Arot No. 1 well. Camberly Energy Ltd. has a 32% working interest in the well of which 22% is carried and 10% is participating. The well's location has been selected, surveyed and approved by all local authorities. Camberly anticipates a spud date sometime between May 1 and May 15, 1997. A definite spud date will be released once it becomes available. CONTACT: Kevin W. Oriold Director of Investor Relations Investor relations The process by which the corporation communicates with its investors. Camberly Energy Ltd. 700, 635 - 8 Avenue SW Calgary, Alberta, T2P T2P Type-Two Phaser (Star Trek) T2P Transition to Production (computer systems development) 3M3 Tel: 403/265-5997 URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : www.camberly.com Fax: 403/262-6607 E-mail: camberly@cadvision.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion