Canadian Superior, Partners Hit Main Target at Trinidad's Endeavour Well
Canadian Superior, along with its partners, BG International Limited and Challenger Energy Corp., having drilled the "Endeavour" well offshore Trinidad to a depth of approximately 17,063 feet subsea in the final section of the well and into the main target zone for the well, have decided to redrill the final section of the well with a mechanical sidetrack.
Further drilling in the previously drilled final section is no longer practicable due to well bore damage that occurred during recent well control operations. Well control operations were initiated to manage an uncontrolled flow into the well that occurred during routine drilling operations while replacing a worn drill bit.
Speaking today, Mike Coolen, Canadian Superior's President & CEO, said, "The geological data obtained from the drilling to date of 'Endeavour' is very encouraging. When drilling was stopped to replace a worn drill bit, the data indicates that we had encountered, and were still drilling in, the main targeted zone for this well. Logging While Drilling ('LWD') data indicates that we have penetrated the main targeted zone; and, that the 'Endeavour' well has encountered approximately 162 feet of gross reservoir quality sands over a 168 foot interval to this point. While the data in hand is very useful; it is preferable to drill further into the main target zone to better determine the full extent of the reservoir and to obtain additional information, including full wireline logs, to further evaluate the various reservoir parameters and to have timely data in hand for forward scheduling of any possible appraisal work required. The sidetrack drilling is planned to start just as soon as the blowout preventer ("BOP") undergoes a necessary repair to allow drilling to proceed."
The "Endeavour" well was spudded on August 28, 2008 and has a planned approximate final total depth ("TD") of about 18,000 feet. The "Endeavour" well is being drilled by the Kan Tan IV semi-submersible drilling rig in about 1,000 feet of water, which also drilled the "Victory" and "Bounty" natural gas discovery wells on this block; and is the 3rd well, in an initial 3 well program, being drilled by Canadian Superior and its partners on the "Intrepid" Block, Block 5(c), located approximately 60 miles offshore, off the east coast of Trinidad. "Endeavour" is being drilled on a separate prospect determined from the analysis and evaluation of extensive 3D seismic on the "Intrepid" Block 5(c). Earlier this year, Canadian Superior announced two separate natural gas discoveries on Block 5(c); in the "Victory" well, announced on January 14, 2008; and, in the "Bounty" well, announced on August 13, 2008.
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