Other Company activities related to the "Mariner Project" include the selection of the exact well location for the initial "Mariner" exploration well, based on the processing of over 2,200 kilometers of high-resolution seismic data collected in late 2002. Well construction engineering and procurement activities are also well underway.
Canadian Superior's "Mariner" block (EL 2409) encompasses a total area of 101,800 acres, and it directly offsets five significant discoveries near Sable Island including the 1.6 tcf Venture natural gas field located, 275 kilometres Southeast of Halifax, Nova Scotia. The "Mariner" well will be drilled to a total depth of 19,685 feet (6,000 metres) and it will evaluate a large structure that has been identified directly offsetting the Venture natural gas field.
Speaking at a luncheon in Toronto today, Canadian Superior's President, Greg Noval, said, "Following the drilling of 'Mariner', we are planning to drill a second 'Marquis' well, later in 2003. Noval noted that, "Industry is also planning at least two wells offsetting Canadian Superior's Mariner and Marquis acreages and deepwater drilling is being conducted offshore Nova Scotia which bodes well for our Company".
Other environmental work recently completed has focused on the Company's deep water acreage, the "Mayflower" block (EL 2406). Coolen commented, "As planned, prior to year end, we completed and filed, with the CNSOPB, our 'Environmental Assessment of Exploration Drilling - Mayflower License (EL 2406)' and the results of our Deep-Water Environmental Survey field program characterizing the benthic habitat in that block. Both these studies were completed for the Company by Jacques Whitford Environmental Limited, Dartmouth, Nova Scotia." In further comment Coolen noted, "We are in the process of working toward finalizing a deepwater partner for this exciting prospect and want to have 'Mayflower's' environmental review complete by mid-year."
Canadian Superior's deep water "Mayflower" block is located approximately 285 miles straight East of Boston, Massachusetts in close proximity to Northeast United States energy markets, which are the largest natural gas markets in the world. Drilling on the "Mayflower Prospect", targeting large deep-water turbidite structures identified on the property, is planned for late 2003/early 2004.
Canadian Superior is one of the largest holders of deepwater acreage offshore Nova Scotia where the CNSOPB has recently significantly upgraded potential natural gas reserves. Deepwater wells encountering natural gas reserves have been drilling by Marathon Oil and Chevron Canada during 2002 in the area. Marathon has announced that it is proceeding ahead with plans for follow-up wells to its discovery during 2003, and Imperial Oil, Shell, EnCana, Kerr McGee and other operators are currently proceeding ahead with drilling plans for other deepwater wells offshore Nova Scotia.
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