Olympia Energy Inc. Boosts Production to Record Levels.Energy Editors/Business Editors CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--Jan. 14, 2004 Olympia Olympia, city, ancient Greece Olympia, ancient city, important center of the worship of Zeus in ancient Greece, in Elis near the Alpheus (now Alfiós) R. It was the scene of the Olympic games. Energy Inc. is pleased to announce that production additions from new wells at Lochend and Moon Creek Alberta have increased the Company's overall production to approximately 5,500 boepd. Three new wells at Lochend commenced production since year-end with a combined capability of 737 boepd (583 boepd net), bringing the total production in this area to 2,625 boepd (2,074 boepd net). Olympia's ongoing efforts in this area should see continued drilling with up to 20 development locations budgeted for 2004. The Moon Creek 10-32 well was put on production on December 21, 2003 after the installation of a 29 km., $7.5 million dollar pipeline and compression facility. This facility will provide Olympia with strategic access to opportunities along an under-exploited corridor in a prolific area within the Deep Basin of Alberta. Olympia Energy Inc. is a junior oil and gas exploration and production company. The Company's principal production areas are in the foothills region of Alberta, west of Calgary, and shallow gas near Medicine Hat, Alberta Medicine Hat, known to locals as "The Hat", is a city located in the southeastern part of the province of Alberta, Canada. It is situated on the Trans-Canada Highway, the eastern terminus of the Crowsnest Highway, and the South Saskatchewan River. . The Company's head office is in Calgary, Alberta and the Company's shares trade 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 OLY OLY Olney, Illinois (Airport Code) . Olympia Energy Inc. 2100, 500-4th Avenue S.W. Calgary, Alberta T2P 2V6 |
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