Canadian Superior Energy Inc. Announces Northern Alberta and Northeast British Columbia Drilling Successes.Business & Energy Writers CALGARY, Alberta--(BUSINESS WIRE)--Feb. 8, 2002 Canadian Superior Energy Inc. ("Canadian Superior") (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :SNG SNG abbr. 1. substitute natural gas 2. synthetic natural gas ) of Calgary, Alberta announced today that its winter drilling program in Northern Alberta Norhern Alberta is a region located in the Canadian province of Alberta. Its primary industry is oil and gas, with large heavy oil reserves being exploited at the Athabasca Oil Sands and Wabasca Area in the east of the region. and Northeast British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography has resulted in several new discoveries. Company President Greg Noval said in Calgary today, "Canadian Superior's multi-well natural gas drilling in Northern Alberta and Northeast British Columbia has resulted in several new exciting discoveries in the Bison Lake, Boundary Lake Boundary Lake is a small lake on the border between Canada and the United States, in the Canadian province of Manitoba and the American state of North Dakota. At 1.1 ha (3 acres) its west island is one of the world's smallest land masses split by an international border. , Bear Canyon Bear Canyon offers views of Tucson, Arizona's Santa Catalina Mountains to the north. Accessible from the Sabino Canyon visitors' center, Bear Canyon contains natural spectacles such as Seven Falls and Thimble Peak. , Windfall and Venus areas of Northern Alberta and in the Parkland and Umbach areas of Northeast British Columbia. To date, 15 wells in an initial 18 well winter drilling program have been drilling resulting in 12 natural gas discoveries and 1 oil discovery. Various completion, testing and tie-in operations are currently underway in each of the new areas. The new discoveries have been drilled at a cost of approximately $9.5 million and incremental production from the wells is expected to exceed 15 mmcf/d of natural gas and associated liquids production. Follow-up wells to the new discoveries are currently drilling or about to be drilled in the Windfall, Boundary Lake, Bison and Venus areas. Canadian Superior is the operator of all the wells being drilled under the new program and has a 100% working interest in all prospects other than at Boundary Lake, Bear Canyon, and Umbach, where it has a 50%, 65% and 66 2/3% working interest, respectively. Canadian Superior is a Calgary, Alberta based oil and gas exploration and production company. The shares of Canadian Superior trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (TSE) under the stock symbol (SNG). Certain information regarding the above mentioned may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results or estimates to differ materially from those anticipated or implied in the forward-looking statements. Actual 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. |
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