Newport Petroleum reports significant gas discovery.CALGARY, ALBERTA--(BUSINESS WIRE)--April 27, 1995--NEWPORT PETROLEUM (TSE See Tokyo Stock Exchange.TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : NPP NPP Nuclear Power Plant NPP Net Primary Production NPP Net Primary Productivity NPP Notice of Privacy Practices (US HIPAA medical patient privacy) NPP National Priorities Project NPP New Patriotic Party (Ghana) ) NEWPORT PETROLEUM CORPORATION announces that it has made a significant gas discovery in the Dunvegan area of northwestern Alberta. The discovery well which is located at 13-17-81-03 W6M encountered gas in the Kiskatinaw formation and, following completion, flowed at a rate of 7 mmcf per day. Newport and the operator, Anderson Anderson, river, Canada Anderson, river, c.465 mi (750 km) long, rising in several lakes in N central Northwest Territories, Canada. It meanders north and west before receiving the Carnwath River and flowing north to Liverpool Bay, an arm of the Arctic Exploration Ltd., each have a 50% interest in the 13-17 well. Newport owns an interest in 5,440 gross (2,480 net) acres of land offsetting the discovery and has negotiated options to earn interests in an additional 12,480 gross acres. The 13-17 well is approximately three miles east of the Anderson Dunvegan Gas Plant which has capacity available to process gas from the new pool. A pipeline project to tie-in the 13-17 well is scheduled for completion in July, 1995. Two additional drilling locations have been identified and are currently being evaluated. The Dunvegan discovery is southeast of Newport's June, 1994 Kiskatinaw gas discovery at George where two follow-up wells have been drilled and completed. During the second quarter, the Company expects to drill a fourth well and construct a six mile pipeline to connect the George wells George Wells may refer to:
George I, 1845–1913, king of the Hellenes (1863–1913), second son of Christian IX of Denmark. After the deposition (1862) of Otto I, he was elected to succeed on the throne of Greece. estimated to be about 5 mmcf per day net to Newport who is the operator of this project. CONTACT: Sid Dykstra, Executive Vice-President 403/531-1535 or Maurice L. Randall Vice President, Marketing & Corporate Development 403/531-1532 INDUSTRY KEYWORD: MINING OIL/GAS REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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