Canadian Superior Energy Inc.'s New Coal Bed Methane 'CBM' Natural Gas Project is Placed On Stream and Company also Announces New Natural Gas Discovery in Western Canada.CALGARY, Alberta -- Canadian Superior Energy Inc. ("Canadian Superior") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :SNG SNG abbr. 1. substitute natural gas 2. synthetic natural gas ) (AMEX AMEX See: American Stock Exchange : SNG) of Calgary, Alberta, Canada said today that it is pleased to announce that its new Coal Bed Methane ("CBM CBM Commodore Business Machines CBM Coalbed Methane CBM Christoffel Blindenmission CBM Condition Based Maintenance CBM Confidence-Building Measures CBM Curriculum Based Measurement (education) CBM Cubic Meter ") Natural Gas Project in its Drumheller core producing area has been placed on stream, in an initial planned 50 well Coal Bed Methane Production Project. Also, Canadian Superior said in Calgary today that the first 30 Coal Bed Methane ("CBM") wells in the Drumheller area are now tied-in and on production at an initial average rate of 100 mcf per day per well. The Company has a 30% working interest in these non-operated wells that are producing from the Horseshoe Canyon Horseshoe Canyon can refer to:
The Company has approximately 140 gross sections (89,600 acres) of high working interest land holdings in its core Drumheller area with potential for Coal Bed Methane production (Please see Coal Bed Methane Holdings Map, Estimates of Resource Potential and Potential Value at www.cansup.com), and also an additional 20 sections of land holdings with CBM potential in the Wildunn area of Alberta. The Company intends to build on this solid non-operated foundation and plans to commence drilling of operated CBM wells on its high working interest land in the area. Canadian Superior also said today that it has a new conventional 100% W.I. natural gas discovery in its core Drumheller area that AOF AOF Academy Of Finance (New York State Department of Education) AOF Afrique Occidentale Française (French) AOF Avon Old Farms (Avon, CT school) tested at 4.4 mmcf per day, which has been recently tied-in and is expected to have stabilized production of approximately 2 mmcf per day of natural gas, furthermore, the Company is planning follow-up locations in the area. The Company also noted today that it had commenced the year at a production rate of approximately 2,730 boe/d and is currently producing at a rate of approximately 3,100 boe/d. The Company also said that it expects its production rate at year end to be approximately 3,450 boe/d, up 26% from the production rate at the beginning of the year. Canadian Superior's President, Greg Noval, said, "All additions to Canadian Superior's production base in Western Canada
Western Canada, commonly referred to as the West this year have been achieved through the drill bit with a very disciplined capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. program; and I commend the efforts of Canadian Superior's staff and the support of our investors in this regard." Canadian Superior is a Calgary, Alberta based oil and gas exploration and production company with operations in Western Canada, offshore Trinidad and Tobago Trinidad and Tobago (trĭn`ĭdăd, təbā`gō), officially Republic of Trinidad and Tobago, republic (2005 est. pop. 1,088,000), 1,980 sq mi (5,129 sq km), West Indies. The capital is Port of Spain. and offshore Nova Scotia Nova Scotia (nō`və skō`shə) [Lat.,=new Scotland], province (2001 pop. 908,007), 21,425 sq mi (55,491 sq km), E Canada. Geography . See Canadian Superior's website at www.cansup.com to review Canadian Superior's Western Canadian Operations, Trinidad and Tobago holdings and the Company's offshore Nova Scotia interests. This news release contains forward-looking information on future production, project start-ups and future capital spending. Actual results or estimated results could differ materially due to changes in project schedules, operating performance, demand for oil and gas, commercial negotiations or other technical and economic factors or revisions. Statements contained in this news release relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporation's annual report on Form 40-F on file with the U.S. Securities and Exchange Commission. Canadian Superior Energy Inc. (TSX:SNG) (AMEX:SNG) |
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