Canadian 88 Energy Corp. Announces Test Results of Significant Natural Gas Discovery in Alberta Foothills.CALGARY, ALBERTA--(BUSINESS WIRE)--Sept. 28, 1999-- Canadian 88 Energy Corp.(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) of Calgary, Alberta announced today the test results of a significant natural gas discovery the Company has made in the Benjamin Creek areas of the Wildcat Hills The Wildcat Hills are an escarpment between the North Platte River and Pumpkin Creek in the western Nebraska Panhandle. Located in Banner, Morrill, and Scotts Bluff counties, the high tableland between the streams has been eroded by wind and water into a region of forested buttes, in the Alberta Foothills approximately 100 kilometers (60 miles) northwest of Calgary, Alberta, Canada. The Company said that it has successfully completed the production testing of its L.S.D. 12, Sec. 24, Twp. 28, Rge. 8 W5M discovery well drilled from a surface location at L.S.D. 9, Sec. 23, Twp. 28, Rge. 8 W5M. Canadian 88 has a 75% interest in the Benjamin Creek well and its Rocky Mountain Exploration Fund (RMX RMX Remix (music) RMX RockMan X (video game) RMX RetailersMarketXchange RMX Reverse Mail eXchange RMX Remote Mail Exchange RMX Realtime Multitasking Executive RMX Reverse Mx RMX Real Music Jukebox ) has the remaining 25% interest. The Benjamin Creek well was drilled to a total depth of 2,423 meters (7,950 feet) targetting the Rundle and Turner Valley formations and encountered 140 meters (459 feet) of highly fractured natural gas pay. Production testing of the well indicates a combined production capability at line pressure estimated at 31.4 mmcf/d. The Rundle formation has an estimated production capability of 19.1 mmcf/d. The Turner Valley formation has an estimated production capability of 12.3 mmcf/d. The average H2S H2S Hydrogen Sulfide H2S How to Succeed in Business Without Really Trying (Also abbreviated H2$) H2S Heart to Soul (song) concentration from the formations is only 1.5%. "With the successful drilling and completion of the West Benjamin well Canadian 88 has established itself as a major player in one of the most exciting exploration and development plays in Western Canada," said Soheil Asgarpour, Senior Vice President of Canadian 88. "Canadian 88 has extensive landholdings in the area and further high impact wells are planned for the area based on large scale high resolution 3-D seismic programs that have recently been shot by the Company." The West Benjamin discovery along with another well drilled by Canadian 88 (100% W.I.) in the area at L.S.D. 16, Sec. 23, Twp. 28, Rge. 8 W5M will be put on production in early October. Current pipeline capacity available to Canadian 88 is 15 mmcf/d. The Company said that they are working with another area producer to increase the pipeline capacity to meet the Benjamin field's capability by year end. 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 or American Stock Exchanges. |
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