Canadian 88 Energy Corp. Announces New Natural Gas Discoveries in West Central Alberta.CALGARY, ALBERTA--(BUSINESS WIRE)--April 21, 1999-- Canadian 88(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :EEE EEE eastern equine encephalomyelitis. EEE eastern equine encephalomyelitis. .) (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :EEE.) (AMEX AMEX See: American Stock Exchange :EEE) Canadian 88 Energy Corp. of Calgary, Alberta, Canada announced today two new natural gas discoveries in the foothills of West Central Alberta Central Alberta (also named Alberta's Heartland) is a region located in the Canadian province of Alberta. Central Alberta is the most densely populated rural area in the province. Agriculture and energy make up an important part of the economy. . The Company said in Calgary today that it has successfully completed the drilling of its L.S.D. 10, Sec. 14, Twp. 27, Rge. 7 W5M Salter exploration well in the Wildcat Hills area of West Central Alberta to a total depth of 3,507 meters (11,506 feet) with significant natural gas pay having been encountered in the Mississippian formation. In addition, in the Ricinus area approximately 22 miles southwest of Rocky Mountain House, Alberta Rocky Mountain House is a town in west-central Alberta, Canada, at the confluence of the Clearwater and North Saskatchewan Rivers. History The town has a long history dating to the 18th century with the presence of British and Canadian fur traders during the westward , Canadian 88's deep foothills test located at L.S.D. 12, Sec. 2, Twp. 36, Rge. 9 W5M has encountered significant natural gas reserves in the Leduc formation. The latter well was drilled to a total depth of 4,299 meters (14,105 feet). Completion operations on both wells are expected to commence within the next ten days with both wells being part of a large multi-well drilling program Canadian 88 currently has underway in the foothills of Alberta. In other developments, the Company said that completion operations are currently underway at West Benjamin where the Company has recently announced a natural gas discovery at L.S.D. 16, Sec. 23, Twp. 28, Rge. 8 W5M. Pipeline approvals have been received to tie-in the West Benjamin discovery with construction expected to commence within approximately the next 30 days immediately after spring break-up. In addition, a follow-up well to the L.S.D. 16, Sec. 23 West Benjamin well is currently being licenced. The Company said that both the West Benjamin and Salter Wildcat Hills discoveries are the result of extensive high resolution 3-D seismic recently shot in the area by Canadian 88. Canadian 88 Energy Corp. (EEE) is an independent public oil and gas company with its head office in Calgary, Alberta, Canada. The shares of Canadian 88 Energy Corp. are traded on the Toronto, Alberta and American Stock Exchanges This is a list of American stock exchanges. Stock exchanges in Latin America (where Spanish and Portuguese prevail) use the term Bolsa de Valores, meaning 'bag' or 'purse' of 'values'. . The information contained herein has neither been approved nor disapproved by the Toronto, Alberta and American Stock Exchanges. |
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