Doreal to Participate in Portugal Exploration Well to Spud in Early November.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 20, 1997-- Doreal Energy Corpor (Alberta Stock Exchange DOY DOY - day of year (US DoD).)(OTC Bulletin Board DEG.CF.) Doreal Energy Corporation is pleased to announce that the Aljubarrota Aljubarrota (əlzh  bər-rô`tə), village, Leiria dist., W central Portugal, in Beira Litoral. On Aug. No. 1 exploratory well, located near the community of Nazare in the Lusitanian Basin of west central Portugal, will be spudded on or about November 7, 1997, and is expected to reach its target of approximately 12,000 feet within 50 to 65 days. Several geologic objectives will be evaluated during drilling but the primary objective is the Silves Formation sandstone of Lower Triassic age. The Silves is trapped below Upper Triassic Dagorda Formation salt. Doreal Energy Corporation has a 10.00 percent working interest and a 9.35 percent net revenue interest in the project. The operator of the project is Mohave Mohave, indigenous people of North AmericaMohave (mōhä`vē), indigenous people of North America whose language belongs to the Yuman branch of the Hokan-Siouan linguistic stock (see Native American languages). In the mid-18th cent. they lived on both banks of the Colorado River, in Arizona and California. Oil and Gas Corporation, Houston, Texas.Other partners include El Paso Energy Portugal, Houston, Texas; CAPEX, S.A., Buenos Aires, Argentina; European Hydrocarbon Ltd., London, England; and EDC Portugal, Ltd. (a subsidiary of Samedan Oil Corporation), Houston, Texas. According to the operator, if productive in the Silves Formation, this 35,000 acre structural closure could contain recoverable reserves of over 5 trillion cubic feet of gas plus over 100 million barrels of oil. Utilizing over 1,600 kilometers of state-of-the-art seismic, several additional prospects having equal or greater potential, have been identified within the groups 850,000 acre licenses. This acreage lies both onshore and offshore in west-central Portugal and will be evaluated by exploratory and development drilling as rapidly as practical. The Aljubarrota No. 1 exploration well is located three miles from a 28-inch gas pipeline which transects the licenses from north to south. Sufficient line capacity exists for any discovery made by the partnership. -0- NOTE TO EDITORS: The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Doreal Energy Corp., Vancouver Ian Gallie, 604/681-2802 http://www.dorealenergy.com |
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