Canadian Leader Energy announces drilling commenced.CALGARY, Alberta--(BUSINESS WIRE)--Sept. 17, 1996--CANADIAN LEADER ENERGY INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : LOL ) ("Canadian Leader") announces that drilling has commenced on the El Biban horizontal re-entry well located approximately 18 kilometers east of the Port of Zarzis offshore Tunisia in the Mediterranean Sea. The El Biban #3 vertical well is being re-entered and drilled directionally northeast towards the El Biban No. 1 vertical well which tested 4,400 barrels of oil per day in 1982. The El Biban No. 3 re-entry is expected to reach a total measured depth of 3,698 meters (2,208 meters true vertical depth) by early November and will penetrate approximately 1,235 meters of the Jurassic Zebbag formation. The well is being drilled on a 56,000 acre concession which is owned by Ecumed Petroleum Tunisia, Ltd. as to 73.7 percent and Aminex Tunisia, Ltd. as to 26.3 percent. ECUMED PETROLEUM TUNISIA, LTD. IS OWNED 40 PERCENT BY DURAHAM PETROLEUM CORPORATION, A WHOLLY OWNED SUBSIDIARY Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. OF CANADIAN LEADER ENERGY INC. Canadian Leader is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. with shares trading on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the trading symbol "LOL". CONTACT: Canadian Leader Energy Inc. Jeffrey L. Standen, (403) 264-1095 (403) 264-6111 (FAX) |
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