The well to be drilling early in the new year will be located on xploration License EL 2402 which was purchased on October 31, 2000 for a work expenditure bid of Cdn. $22.5 Million. Canadian Superior's Director of East Coast Operations, Mike Coolen, said that Canadian Superior is pleased to announce that it has awarded the Wellsite and Geophysical Survey contract to Fugro Jacques GeoSurveys Inc. of Dartmouth, Nova Scotia. "Fugro Jacques has extensive experience in this area and we are pleased to award this contract to them," Coolen said.
The survey work is to be completed by December 31, 2001 at a cost of Cdn. $400,000 and it will be conducted in full compliance with the Canada-Nova Scotia Offshore Petroleum Board Regulations and guidelines and Canadian Superior's specifications.
The Wellsite Survey will include a review of historical geophysical and geotechnical data for the area, mobilization of a geophysical survey vessel and survey equipment, a detailed bathometric survey of the area, identification of any geophysical hazards that may affect the drilling operation, mapping of seafloor features and any hazards, determination of geological composition and identification of any man made hazards, identification of any possible shallow gas areas, locating communication cable lines, photography of the seabed and environmental sampling and analysis. The results of the survey will be used to obtain final CNSOPB approval for drilling of the initial test well.
Canadian Superior's "Marquis Prospect" is located approximately 12.5 miles northwest of Sable Island and is directly on trend and analogous to the recent Deep Panuke Abenaki Reef Natural Gas Discovery, approximately 15.6 miles to the southwest where several new wells have been recently tested with productive capacity each in excess of 50 MMCF/D. The Deep Panuke discovery is expected to produce up to 400 MMCF/D when it is brought on line. Canadian Superior's properties are in shallow water depths (300 feet) in close proximity to newly constructed pipeline infrastructure connecting 500 MMCF/D of Sable Island natural gas to vibrant New England natural gas markets.
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