Canadian Superior Recovers the Kan Tan IV's BOP

Canadian Superior says that over the weekend the Kan Tan IV drilling rig's BOP has been recovered from the seafloor (approximately 800 feet subsea) for repair and retesting.

Recovery and repair operations on the BOP had been delayed temporarily due to high seasonal ocean currents common offshore Trinidad at this time of year. These strong ring or loop ocean currents, experienced by all operators in the area, have now moved north of the "Victory" well site and subsided to the extent that the BOP was safely recovered to the rig floor. Currently the BOP is being repaired on the Kan Tan IV drilling rig.

Prior to the BOP requiring repair, the Victory well had been sidetracked, drilled, logged, cased (9-7/8") and cemented to a depth of approximately 13,828 feet subsea. Once the BOP is repaired, retested and re-installed on the seafloor, the drilling of the final portion of the well, the 8-1/2" hole section, to a total depth of approximately 16,000 feet will recommence. Normal operations are expected to recommence in the coming days and further updates on the well will be provided in due course.

Canadian Superior's joint venture partners in the Intrepid Block 5(c) Project are BG International Limited, a wholly owned subsidiary of the BG Group and Challenger Energy Corp. The Kan Tan IV semi-submersible drilling rig drilling the wells is operated by Maersk Contractors and owned by SINOPEC.

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