Carmanah Updates Indonesian Activity.CALGARY, ALBERTA--(BUSINESS WIRE)--Nov. 13, 1996-- Carmanah (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. .) Carmanah Resources Ltd. ("CKM" - TSE) announced today it has commenced its drilling program at Babat-Kukui, onshore southern Sumatra, Indonesia. The first well, Babat B-500, was spudded November 12, 1996 and is nearing total depth. The well will be logged, cased, tested and, if warranted, placed on production in the near future. The corehole drilled at this location earlier this year flowed oil and water to surface at attractive calculated rates from a sandstone reservoir at around 290 metres. An additional two or three wells will be drilled within the Babat and Kukui oil fields This list of oil fields includes major fields of the past and present. The list is incomplete; there are more than 40,000 oil and gas fields of all sizes in the world[1]. between now and year-end. The results of this program will assist Carmanah in determining the potential commerciality of this project. Carmanah, through its wholly-owned subsidiary GFB GFB Georgia Farm Bureau GFB Government-Furnished Baseline GFB Gasping for Breath GFB Geschäftsfallbearbeitung (German) GFB Gleaners Community Food Bank GFB Generalized Forward-Backward Method Resources (Babat) Limited can earn up to an 82 percent working interest in the Technical Assistance Contract covering these two oil fields. At Camar, Carmanah is in the final stages of installing a second jet pump a device in which a small jet of steam, air, water, or other fluid, in rapid motion, lifts or otherwise moves, by its impulse, a larger quantity of the fluid with which it mingles. See also: Jet on 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 northern platform in the field. This will enable production to be obtained from both CN-2 and Camar-5, the two wells tied in to WPP. Production has been restricted during 1996 at WPP, as the one jet pump presently installed can only handle fluid from one well at a time. Carmanah expects to produce an additional 300 to 400 BOPD BOPD Barrels of Oil Per Day BOPD Bataan Ocean Petroleum Depot once the pump is operative, likely within two to three days. On the southern lobe, Carmanah is preparing to commence a workover program on CS-1, one of the four wells tied into CPP cpp - C preprocessor. , the southern platform at Camar. The program is awaiting final Pertamina approval, likely to be received in the next several days. It entails completing for production the LL-2 zone, which is productive in other wells at Camar. Also, the lower Kujung-I heavy oil zone, which underlies the Kujung-I gas-bearing zone awaiting development, will be perforated and tested for its productive capacity. This zone yielded over 300 BOPD on a drillstem test in Camar-1, and occurs in all four wells presently producing light-gravity oil from deeper horizons. With gas lift installed in the southern lobe, if the heavy oil zone yields oil (13 degree API) on test, this zone could be completed in the three other wells connected to CPP and the heavier oil could be commingled and produced in conjunction with the lighter crude. Subsequent development of this heavy oil zone may include the drilling of horizontal wells to fully-exploit this significant accumulation. Carmanah plans to release its financial and operating results for the nine months ended September 30, 1996 on Nov. 22, 1996. 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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