Courage Energy Inc. Announces Completion Results.CALGARY, ALBERTA--(BUSINESS WIRE)--July 30, 1997--Courage Energy (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ) announces that it has successfully completed and flow tested three wells which were recently cased. At Alhambra (Courage 50 percent working interest), the well flow tested from a Lower Mannville zone at a stabilized rate of 11.4 MMCFD, at 1950 psi tubing head pressure, with 70 bbls/MMCF of condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. and liquids. The well is expected to be on stream in August at a rate of approximately 5.0 MMCFD and 350 BBL/D of liquids. The Leduc Well (Courage 100 percent working interest) flow tested at a rate of 6.3 MMCFD at 990 psi tubing pressure from one of the pay zones in the well. A second pay zone in the well, which was drill stem tested In oil and natural gas extraction, the drill stem includes the drill pipe, drill collars, bottomhole assembly, and drill bit. A drill stem test (DST) is a procedure for testing the surrounding geological formation through the drill pipe. upon penetration, tested at a stable rate of 4.25 MMCFD at 275 psi. Production and tie-in alternatives are currently being evaluated. The well at Medicine River (Courage 100 percent working interest) was completed and stimulated in a Lower Mannville interval which yielded oil. This interval will be production tested and evaluated prior to evaluating an up hole zone which drill stem tested gas. At Elmworth (Courage 100 percent working interest), the well encountered a depleted de·plete tr.v. de·plet·ed, de·plet·ing, de·pletes To decrease the fullness of; use up or empty out. [Latin d horizon and was subsequently abandoned. Courage Energy Inc. is a Canadian oil and natural gas company. The principal business is the exploration, development and production of oil and natural gas. The common shares of Courage are listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "CEO". CONTACT: Courage Energy Inc. R. G. Moffat, 403/266-4422 403/264-1028 (FAX) |
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