Canadian 88 Energy Corp.-New Well Confirms Major Foothills Discovery at West Caroline.Business Editors CALGARY, ALBERTA--(BUSINESS WIRE)--July 26, 2000 Canadian 88 Energy Corp. of Calgary CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. 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. .)(AMEX AMEX See: American Stock Exchange :EEE), Alberta announced today the successful completion of its seventh Caroline B Pool well at L.S.D. 14, Sec. 24, Twp. 34, Rge. 6 W5M. Well ownership is Canadian 88 (50%) and Hunt Oil Company of Canada, Inc. (50%). Canadian 88 will become operator of the well after testing is complete. This well was drilled to a total depth of 3,982 meters (13,065 feet) on October 30, 1999 and encountered 27 meters of Swan Hills formation. The well has been recently completed and tested inline in May through July of 2000. Testing the well inline reduced flaring of sour and acid gas to minimum levels. Production testing of the well occurred at various flow rates and wellhead pressures with a maximum flow rate of 16 mmscf/d of raw gas being recorded, with a back pressure of 1,750 psi on the wellhead. This rate was restricted by production and processing limitations. The well is expected to flow at significantly higher rates once it is tied in due to lower back pressure. Preliminary laboratory analyses of gas composition indicates an H2S H2S Hydrogen Sulfide H2S How to Succeed in Business Without Really Trying (Also abbreviated H2$) H2S Heart to Soul (song) concentration of approximately 50% and ethane ethane (ĕth`ān), CH3CH3, gaseous hydrocarbon. It is a continuous-chain alkane. As a constituent of natural gas, it is used for fuel. It can be prepared by cracking and fractional distillation of petroleum. plus liquid recovery of approximately 70 bbl/mmscf of raw gas. The well is the seventh well to be drilled into the Caroline B pool estimated to be approximately 12 miles long and one mile wide. The Caroline B pool is located approximately 8 miles south of Caroline, Alberta and immediately west of Shell Canada's Caroline A gas pool. A joint development plan has been prepared by Canadian 88 Energy Corp. and Hunt Oil Company of Canada, Inc. to put this pool on production within the next 12 months. Both companies are actively involved in the Sundre Petroleum Operators Group process which includes area residents, the Alberta Energy Utilities Board and oil and gas companies, working together to ensure this pool is developed in a mutually beneficial and efficient manner. 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 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'. . |
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