Canadian 88 Energy Corp. and RMX Announce New Discoveries in West Central Alberta.CALGARY, ALBERTA--(BUSINESS WIRE)--Oct. 3, 1997--Canadian 88(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). EEE EEE eastern equine encephalomyelitis. EEE eastern equine encephalomyelitis. .) Canadian 88 Energy Corp. of Calgary, Alberta announced today two new discovery wells in the Caroline/Lanaway and Innisfail areas 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. . Both wells were drilled in conjunction with Canadian 88 Energy Corp.'s $150 million Rocky Mountain Exploration (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 ) Fund with Canadian 88 having a 75 percent working interest and RMX having a 25 percent working interest in the discoveries. The Caroline/Lanaway well drilled to a total depth of 2,400 meters at 11-34-36-4 W5M has encountered over 10 meters of Elkton oil pay with reserves expected to exceed 500,000 barrels of oil. The Innisfail well drilled to 2,212 meters at 4-28-35-1 W5M has encountered over 10 meters of Pekisko gas pay with natural gas reserves expected to exceed 5 Bcf. Both wells were drilled based upon high resolution 3-D seismic conducted by Canadian 88 in the area. Canadian 88 is currently the most active foothills driller in West Central and 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]. with seven deep foothills rigs currently operating. In a recent study by Peter's & Co., one of Canada's top energy investment firms, Canadian 88 ranked #1 in the oil and gas industry in Canada in terms of 3 and 5 year record low finding and on-stream costs. Canadian 88 Energy Corp. (EEE) is an independent exploration and production Company with operations in Western Canada. -0- 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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