Bandol-1 Comes Up Dry

Gulf Canada Resources Limited announced that drilling has been completed on the Bandol-1 well in the French territorial waters off the East Coast of Canada. The well was drilled by Global Marine's semisubmersible, Glomar Grand Banks. The well was unsuccessful and is currently being abandoned. The well was fully funded by Gulf's joint venture participants, ExxonMobil and Murphy Oil and is the first on a large, contiguous block of over eight million acres covering a significant, untested portion of the Laurentian sub-basin. The information acquired from the drilling will be analyzed to determine next steps.

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