Canadian 88 Energy Corp. Announces Regulatory Approvals for Construction of Waterton Area Gas Gathering Pipeline.CALGARY, Alberta--(BUSINESS WIRE)--March 31, 1998--Canadian 88 Energy Corp. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :EEE EEE eastern equine encephalomyelitis. EEE eastern equine encephalomyelitis. .) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :EEE.) of Calgary, Alberta, announced today that it has received permit approval from the Alberta Energy and Utilities Board and Alberta Environmental Protection to construct 27 miles (43 kilometers) of new gas gathering pipeline in the Waterton area. The pipelines will connect the Company's large Waterton natural gas play to the Waterton Sour Gas Sour gas is natural gas or any other gas mixture which contains significant amounts of hydrogen sulfide (H2S). According to this reference [1], natural gas is usually considered sour if there are more than 5. Plant. Canadian 88 has successfully drilled and completed four deep Mississippian gas wells at Waterton with average deliverability in excess of 15 mmcf/d, and currently has two development wells drilling ahead at 3012 meters at LSD LSD or lysergic acid diethylamide (lī'sûr`jĭk, dī'ĕth`ələmĭd, dī'ĕthəlăm`ĭd), alkaloid synthesized from lysergic acid, which is found in the fungus ergot ( 16 of Sec 13, Twp 7, Rge 3 W5M and at 3128 meters at LSD 3 of Sec 7, Twp 7, Rge 2 W5M, with a seventh high deliverability well planned for drilling by June, 1998. The ten-inch pipeline is designed to carry all of the Company's (90 percent W.I.) production, and that of its 49.5 percent owned partner Prize Energy Inc.'s (10 percent W.I.) production, expected to exceed 100 mmcf/d of raw inlet gas into Shell Canada Shell Canada Limited (TSX: SHC) is one of Canada's largest integrated oil companies. Exploration and production of oil, natural gas and sulphur is a major part of its business, as well as the marketing of gasoline and related products through the company's approximately 1,800 Limited's Waterton Gas Plant. Equipment is being mobilized to start construction on April 1, with completion and start of production planned for the third quarter. The pipeline has been designed to accommodate up to 50 mmcf/d of additional third-party gas and other Canadian 88 gas expected from the area. Canadian 88 Energy Corp. (EEE) is an independent public oil and gas company with head office in Calgary, Alberta, Canada. -0- Note to Editors: The information contained herein has neither been approved nor disapproved by the Toronto and Alberta Stock Exchanges. CONTACT: Canadian 88 Energy Corp. Greg Noval, 403/974-8800 403/974-8811 (FAX) |
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