Carmanah Updates Camar Production, Development Drilling Program.CALGARY, Alberta--(BUSINESS WIRE)--June 30, 1998--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. .) announces that the Camar-6 well in the 84 percent-owned and operated Camar Field 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). was placed onstream on June 29, 1998. Well test data over the first six hours of production from only the LL-3 zone yielded an average measured flow rate of 1,200 BOPD BOPD Barrels of Oil Per Day BOPD Bataan Ocean Petroleum Depot with 1.5 MMcf/d of natural gas and no formation water. The well is continuing to clean up and stabilized flow rates will be established over the next several days. With Camar-6 onstream at the indicated rate, Camar production has more than doubled to 2,350 BOPD. Carmanah also announces that the MPA-1 development well, located on mile southwest of Camar-6, was spudded on June 26, 1998 and surface casing has been set at 833 feet subsurface. The well has a projected total measured depth of 6,105 feet (4,340 feet TVD TVD Tuvalu Dollar (ISO currency code) TVD True Vertical Depth (oil drilling) TVD Total-Variation-Diminishing TVD Total Vertical Depth (oil and gas) ) which should be reached in 30 days. As this well is being drilled from the monopod mon·o·pod n. A single-legged support for a camera or other hand-held device. platform recently installed to bring Camar-6 onstream, MPA-1 can be completed and placed on production without delay. Immediately following completion of the MPA-1 well, in early August the Pride Pennsylvania jackup rig will be moved to the Camar-8 location, located approximately one mile east of Camar-6. Because of mechanical problems with a safety valve in the completion string, the CN-3 well drilled in May will now be placed on production in late July, awaiting the arrival of a service rig and downhole equipment to complete the remedial work.
CONTACT: Carmanah Resources Ltd.
Mr. R.A. Gusella, 403/266-4975
carmanah@cadvision.com
or
Carmanah Resources Ltd.
Mr. A.F. Badwi, 403/266-4975
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