Canadian Superior Logs Bounty Well Offshore Trinidad

Canadian Superior Energy Inc., as Operator, along with its partners BG International Limited, a wholly owned subsidiary of the BG Group plc  and Challenger Energy Corp., announced the wireline logging of the "Bounty" well on the "Intrepid" Block 5(c) at an interim total depth based on a zone of interest indicated by the logging-while-drilling tool and mud logs.

"The wireline logging operations are still underway, but already wireline logging has shown approximately 200 feet of pay in a developed sand interval that the logs indicate is hydrocarbon bearing," said Canadian Superior CEO Craig McKenzie. "Following the completion of current wireline logging activities, drilling will resume targeting further objectives in the well; flow testing of the zone logged to date is planned thereafter once the well reaches its total depth.
 
The "Bounty" well was spudded on February 20, 2008 on a separate prospect from the "Victory" well natural gas discovery announced on January 14, 2008, located approximately 2.2 miles away, and is being drilled by the KanTan IV semi-submersible rig as the second well in a three-well program. The "Endeavour" well will be spud in August as the third well in the series.
 
"We are very pleased with what we see on the logs that indicate encouraging hydrocarbons prior to fully penetrating all objectives in the well, and we are excited about drilling to our projected TD of approximately 18,000 feet subsea," said McKenzie.
 
Canadian Superior is paying 26-2/3% of the Block 5(c) exploration program cost to maintain a 45% working interest in Block 5(c), with its partners, BG International Limited, a wholly owned subsidiary of the BG Group plc, paying 40% for a 30% working interest and Challenger Energy Corp. paying 33-1/3% for a 25% working interest through Canadian Superior.
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