FCP completes fourth well

05 December 2003
Canada's First Calgary Petroleum (FCP)announced in late November the completion of a fourth successive gas well, MLE-4, located in its 100 per cent-held Ledjmet block 405b. The well was drilled to a depth of 4.595 metres and analysis indicates a successful appraisal of the southerly extent of Menzel Ledjment East (MLE) field. A fifth and final well, MLE-5, is expected to be completed by the end of the year. If the appraisal results are favourable, development of the field will commence early next year.

FCP's three previous wells in the block have combined flow rates in excess of 77,000 barrels of oil equivalent a day and the fourth is expected to add substantially to that as five hydocarbon-bearing zones have been identified.

The development foresees investment of $700 million to establish a 650 million-cubic-feet-a-day (cf/d) processing plant for natural gas and natural gas liquids (NGL). The award of front-end engineering and design (FEED) and engineering, procurement and construction (EPC) contracts are expected in 2004, with first production due in 2007. Estimated recoverable gas reserves from block 405b are 5.7 trillion cubic feet (MEED 7:11:03).

Recently the Calgary-based firm acquired and interpreted an area 600 square kilometres of 3D seismic west of the MLE field.

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