Carmanah Starts Camar Drilling Program.CALGARY, ALBERTA--(BUSINESS WIRE)--March 4, 1997--Carmanah Resources Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CKM CKM Cabibbo-Kobayashi-Maskawa (quark mixing matrix) CKM Certified Knowledge Manager (trademark of Hudson Associates Consulting, Inc. .) announced today that on March 4, 1997 it spudded well CN-3 in the Camar Field, situated in the Bawean Production Sharing Contract in the Java Sea Java Sea Part of the western Pacific Ocean between Java and Borneo islands. Measuring 900 mi (1,450 km) long by 260 mi (420 km) wide, it occupies a total area of 167,000 sq mi (433,000 sq km). A shallow sea, it has a mean depth of 151 ft (46 m). offshore Indonesia. The well will be drilled by the Sime Dual-7 jackup rig from WPP WPP Wire & Plastic Product PLC WPP World Press Photo WPP Web Presence Provider WPP Wolf Pack Productions (anime fan subbing group) WPP Witness Protection Program WPP Wireless Packet Platform WPP Work Package Planning , the platform on the north lobe of Camar. It is scheduled to be a deviated well drilled to a measured depth of 5,300 feet to access significant reserves located updip from CN-2 and Camar-5, the two producing wells presently tied in to WPP. It is expected to take approximately 25 to 30 days to drill, test and tie in CN-3 for immediate production. Following completion of activities at CN-3, Carmanah will move the rig to the south lobe and tie back CS-3 to CPP cpp - C preprocessor. , the southern platform and, if time permits, rework re·work tr.v. re·worked, re·work·ing, re·works 1. To work over again; revise. 2. To subject to a repeated or new process. n. CS-1 before moving to the Camar-6 location. Camar-6 is a vertical well which would require a subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". completion and flowline installation before commencement of production. Carmanah recently completed a 3-D seismic program over the entire Camar Field and the immediately surrounding area in preparation for this drilling program. Plans are already underway to secure another rig for late-1997 or early-1998 to permit follow-up drilling to occur, aimed at optimizing production at Camar by accessing undrilled areas within the field's boundaries. Elsewhere, Carmanah has drilled five wells at Babat-Kukui, onshore southern Sumatra and is presently conducting production testing operations. A sixth well, Babat 508, is also scheduled to be drilled in the near future. It is expected to take another 30 to 45 days to complete the evaluation of this project to determine if an application for a Plan of Development will be submitted to Pertamina. Carmanah is also in negotiations on several new projects, in Indonesia, Egypt, Venezuela (where it has been approved to participate in the Third Round of Awards) and an undisclosed country on a major heavy oil development. These projects are largely developmental in nature with the prospect of significant near- and medium-term production and cash flow, supplementing Carmanah's exciting and high-potential involvement in Indonesia. CONTACT: Carmanah Resources Ltd. Mr. R. A. Gusella, 403/266-4975 403/266-5042 (FAX) or Carmanah Resources Ltd. Mr. A. F. Badwi, 403/266-4975 403/266-5042 (FAX) |
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