Canadian Superior Energy announced, along with its partners, BG International, a wholly owned subsidiary of the BG Group and Challenger Energy Corp., that preparations are now underway to conduct flow testing on the "Endeavour" well, offshore Trinidad, on its "Intrepid" Block 5(c). As previously announced, the main targeted zone for this well has been encountered; and, has now been evaluated with a full suite of electric wireline logs, including modular dynamic testing ("MDT's") and the partners have unanimously agreed to proceed to flow testing. The "Endeavour" well has been drilled to a Final Total Depth ("TD") of approximately 17,426 feet subsea (17,515 feet MD).
Speaking today, Mike Coolen, Canadian Superior's President and CEO, said, "We are pleased with what we are learning from 'Endeavour'; not only in terms of this particular well and its related structure, but also in regard to the overall development potential of the entire 'Intrepid' Block 5(c). Test information from the well is expected to confirm productive characteristics of the reservoir tested and the net pay encountered in the well. Having information from three successful wells, along with the extensive 3D seismic coverage we have over the block and the nearby fields really makes a difference and encourages us to initiate the further appraisal of resources discovered. We look forward to completing the running and cementing in place of the 7" liner to facilitate moving forward with the flow testing program. These operations and finalizing all operations on the well will take close to the end of February to complete. At that point, we will have completed the drilling and testing of all three successful wells, 'Victory', 'Bounty' and 'Endeavour', in this initial three well exploration program on 'Intrepid' Block 5(c) and we will be releasing the drilling rig. We will have more to say on 'Endeavour' and the ongoing development planning for the 'Intrepid' Block 5(c) in the very near future."
The "Endeavour" discovery well was spudded on August 28, 2008 and was 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. In 2008, 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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