Company President, Greg Noval, said today, "Canadian Superior has successfully completed the drilling of two rank wildcat wells on our East Ladyfern play which have resulted in two Slave Point natural gas discoveries, which we are optimistic will result in a new gas field being established on our extensive holdings in this virgin exploration area." The East Ladyfern play is located in Alberta in a remote area approximately 65 miles east of Fort St. John, British Columbia.
"In order for drilling to be conducted on this exciting prospect, approximately 32 miles of trails and roadways and several ice bridges had to be constructed as well as 2 major river crossings completed. This is a very remote area that is accessible only during winter months where we encountered extensive muskeg and we have had to put in place our own infrastructure including crew camp, air strip and medical services," said Ed Pratt, Canadian Superior's Drilling Manager.
Drilling operations were conducted safely throughout the winter during one of the shortest winter drilling seasons on record in Alberta and all further information on the wells is being kept confidential pending upcoming land sales and land negotiations on the area.
The two exploration wells were located on LSD 7, Section 2, Township 92, Range 11, W6M and LSD 12, Section 27, Township 91, Range 11, W6M and drilled to total depths of 9,393 feet and 9,515 feet, respectively. Canadian Superior has a 75% interest in both wells with a major oil and gas company participating for 25%. Canadian Superior's current acreage position is comprised of 22 contiguous sections of land which is located approximately 22 miles East Southeast and updip of the main Ladyfern gas field.
The East Ladyfern play is based on extensive seismic data acquired and shot by Canadian Superior updip from the main Ladyfern field on the Slave Point carbonate bank during the fall of 2001 and winter of 2002 which has identified multiple Slave Point natural gas opportunities on the Company's extensive holdings analogous to the main Ladyfern field and other major pools in the immediate area. A decision was made after the original Murphy/Apache Ladyfern discovery to concentrate on the acquisition of acreage updip and East of Ladyfern where very little seismic data had been shot by industry due to the remote nature of the location. Henceforth, Canadian Superior has been able to acquire extensive acreage on this highly competitive natural gas play on a reasonable basis prior to industry focusing on this area.
Canadian Superior's East Ladyfern multi-well drilling program is part of a focused exploration and development program Canadian Superior is conducting in Western Canada.
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