First Calgary Petroleums Ltd. Announces Preliminary Results from MZLN-1 Well

Source: www.gulfoilandgas.com 8/24/2004, Location: Africa

First Calgary Petroleums Ltd. (FCP) announces preliminary drilling results from the MZLN-1 well, drilled by FCP on the Ledjmet Block (405b) in Algeria. Initial interpretation of the wireline logs indicates the presence of 74 metres of net hydrocarbon pay over multiple intervals.

Production testing is anticipated to commence within four weeks, subject to equipment availability. MZLN-1, drilled to 4460 metres, is located 5.4 km west of FCPs recently cased LEC-1 exploration well and 13 km west of the MLE Field. The well was drilled to confirm and extend the hydrocarbon pay identified in the MZL-1 borehole and to explore for new reserves in additional geological horizons. The production testing will target multiple reservoir horizons from the Lower Devonian to the Triassic-age sandstones.

The production testing of the LEC-1 well is continuing with final results expected in September. LEC-1 was drilled on a structural closure 8 km west of the MLE Field and has 42 metres indicated hydrocarbon pay on logs.



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