PanCanadianís Musquodoboit Well a Duster

PanCanadian Petroleum Limited announced that the Musquodoboit E-23 exploration well, located about 155 miles southeast of Halifax, Nova Scotia, was unsuccessful. PanCanadian holds a 74 percent interest in the well and was the operator. Murphy Oil holds the remaining 26 percent in the well.

The Rowan Gorilla V, which started drilling the Musquodoboit well (EL2360) on June 30, will be moved to drill PanCanadian's Southampton A-25 exploration well (EL2376), which is located 93 miles off the eastern shore of Nova Scotia. PanCanadian will operate this well and holds a 37.5 percent interest. Other interest holders in the well are Marathon with 37.5 percent and Murphy Oil with 25 percent.

In addition to Southampton, PanCanadian will drill another two exploration wells offshore Nova Scotia this year. In November, the Company will drill an exploration well just south of the Panuke Production License to test a different play style associated with the Jurassic carbonate bank margin. PanCanadian will also drill a deepwater well with partners on the Annapolis license, which is operated by Marathon.


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