Canadian Superior Energy Announces Casing and Flow Testing of “Bounty” Well Offshore Trinidad
Canadian Superior Energy Inc. announced, as Operator of the “Bounty” well offshore Trinidad, that Canadian Superior and its partners, BG International Limited (”BG”), a wholly owned subsidiary of the BG Group plc (LSE:BGL.L – News) and Challenger Energy Corp. (”Challenger”) (CDNX:CHQ.V)(AMEX:CHQ) have unanimously agreed to case and conduct flow testing on the “Bounty” well located approximately 65 miles off the east coast of the island of Trinidad.
Speaking today, Craig McKenzie, Canadian Superior’s Chief Executive Officer, said, “We are pleased to move forward with our partners to conduct flow testing on the ‘Bounty’ well. We have completed the initial drilling of the well to approximately 17,360 feet, along with the wireline logging, and are now proceeding with running casing in preparation for our testing. The testing operation will take approximately 30 days, after which we will then commence operations on our next well, the ‘Endeavour’, as we continue our initial three well programme on the ‘Intrepid’ Block 5(c) offshore Trinidad.”
Canadian Superior is a Calgary, Alberta, Canada based oil and gas exploration and production company with operations primarily offshore Trinidad and Tobago, offshore Nova Scotia, Canada and in Western Canada. See Canadian Superior’s website at www.cansup.com to review Canadian Superior’s operations in Western Canada, Offshore Trinidad and Tobago and Offshore Nova Scotia interests. Canadian Superior has approximately 20,000 shareholders worldwide, including some of the top institutional shareholders in North America.
Canadian Superior is paying 26-2/3% of the Block 5(c) exploration program cost to maintain a 45% working interest in Block 5(c), with its partners, BG International Limited, a wholly owned subsidiary of the BG Group plc, paying 40% for a 30% working interest and Challenger Energy Corp. paying 33-1/3% for a 25% working interest through Canadian Superior.
BG Group plc (LSE:BGL.L – News) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with an excellent track record in finding and commercialising reserves. See www.bg-group.com for information on BG Group plc.
Challenger Energy Corp. is a Calgary, Alberta, Canada based oil and gas exploration company which is currently focusing on “high impact” oil and gas plays offshore the Republic of Trinidad and Tobago. See www.challenger-energy.com for information on Challenger.
Contacts: Canadian Superior Energy Inc. Investor Relations (403) 294-1411 (403) 216-2374 (FAX)
Website: http://www.cansup.com
Canadian Superior Energy Inc. Suite 3200, 500 – 4th Avenue S.W. Calgary, Alberta
Canada T2P 2V6
Source: Canadian Superior Energy Inc.
