Richard Anderson, President and CEO stated, "We are extremely pleased with the LES-1 preliminary results. With this well, we have now moved more than 20 km from the original MLE discovery well and are continuing to have excellent drilling results. LES-1 is the most southerly well drilled so far on Block 405b and was located to evaluate a previously undrilled geological structure. The wireline logs indicate the presence of high quality sandstone reservoirs with excellent hydrocarbon saturation."
Summary of FCP's current field operations on Block 405b:
LEC-1: 5.1 km west of MLE Field Cased to total depth (TD) of 4,437 metres. 42 metres of net hydrocarbon pay from wireline logs. Currently production testing. Final results anticipated in late September, 2004. MZLN-1 5.4 km west of LEC-1 Cased to TD of 4,460 metres. 74 metres of net hydrocarbon pay from wireline logs. Production testing anticipated to commence mid September. LES-1 10.0 km SW of LEC-1 Cased to TD of 4,311 metres. 60 metres of net hydrocarbon pay from wireline logs. Production testing anticipated to commence late September. MZLS-1 6.3 km SW of MZLN-1 Drilling at 2,200 metres. Expected TD of 4,500 metres late October. LEW-1 6.0 km west of MZLS-1 Site preparation under way. Drilling anticipated to commence mid September, 2004
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