Canadian 88 Energy Corp. Announces Record 1996 Winter Drilling Program.CALGARY, Alberta--(BUSINESS WIRE)--April 23, 1996-- Canadian 88 Energy Corp. announced in Calgary today that its winter exploration program in Alberta conducted during the first quarter of 1996, resulted in six deep exploration discoveries in 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. and one shallow dry hole at Taber in Southern Alberta Southern Alberta is a region located in the Canadian province of Alberta. As of the year 2004, the region's population was approximately 272,017[1][2]. , yielding an 86 percent success rate. In West Central Alberta, the Company successfully drilled 3 deep liquids rich 100 percent working interest natural gas discoveries including a Leduc natural gas discovery (8-31-36-3-W5M) at Lanaway and 2 discoveries (14-35-32-2-W5M and 13-36-32-2-W5M) in the Garrington area near Olds, Alberta Olds is a small town in central Alberta, Canada. It is located km ( mi) south of Red Deer, the nearest large community, along Highway 2A and the Canadian Pacific Railway tracks. . In the Bearberry bearberry, any plant of the northern and alpine genus Arctostaphylos of the family Ericaceae (heath family), especially A. uvaursi, a trailing evergreen sometimes cultivated as a ground cover. Ricinus area of West Central Alberta, a 75 percent working interest Viking discovery at 3-18-32-6-W5M was drilled on a farm-out from Amerada Hess Canada Ltd. Also at Lanaway a 95 percent working interest dual zone oil and gas discovery drilled and completed located at 6-5-37-3-W5M is onstream. A sixth discovery (100 percent Canadian 88) at an undisclosed location is onstream but is currently being held confidential. Construction of a new 6 inch pipeline has just been completed by Canadian 88 to the Garrington area from Canadian 88's Olds Gas Plant and the 13-36-32-2-W5M well has been tied-in and four wells including the 14-35-32-2-W5M Garrington discovery and a development well drilling Well drilling is the process of drilling a hole in the ground for the extraction of a natural resource such as ground water, natural gas, or petroleum. Drilling for the exploration of the nature of the material underground (for instance in search of metallic ore) is best described at 14-1-33-2-W5M and 2 previously drilled wells in the Olds/Crossfield area are awaiting completion and tie-in to the Olds Gas Plant pending completion of a $6 million gas plant expansion and debottlenecking by June 30, 1996. The Company says it currently has 2 wells drilling through spring breakup including the above-mentioned 14-1 well at Garrington and its $4 million deep foothill test at Waterton, Alberta. Canadian 88 Energy Corp. is an independent exploration and production company with shares listed for trading on the Toronto and Alberta Stock Exchanges Alberta Stock Exchange See Canadian Venture Exchange (CDNX). under the symbol EEE EEE eastern equine encephalomyelitis. EEE eastern equine encephalomyelitis. . The information contained herein has neither been approved nor disapproved by the Toronto and Alberta Stock Exchanges. CONTACT: Canadian 88 Energy Corp. Greg S. Noval President 403/974-8800 403/974-8811 (FAX) |
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