Canadian Superior Poised to Begin Work Offshore Trinidad

Canadian Superior Energy is poised to move swiftly if successful in the Trinidad and Tobago Ministry of Energy and Energy Industries' 2004 Competitive Bid Round. It is anticipated that an announcement of successful bids for the award of Production Sharing Contracts will take place on or before March 31, 2004.

Canadian Superior bid Production Sharing Contracts for two blocks off the east coast of Trinidad. These are:

  • Block 2(ab): a 396,612 acre shallow water coastal/shelf block off the east coast of Trinidad, water depths range from 0 to 50 m (164 feet). Other companies who also qualified for bidding on Block 2(ab) are: BHP Billiton/Talisman/Total, Kerr McGee/Primera and Repsol-YPF Venezuela SA/Petrotrin.

  • Block 5(c): an 80,041 acre Continental Shelf block approximately 75 kilometers (47 miles) off the east coast of Trinidad, water depths in excess of 150 m (500 feet). The other qualifying bidder on Block 5(c) is British Gas (BG).

  • Speaking in Calgary, Greg Noval, President of Canadian Superior, commented, "We are extremely pleased to be short-listed among such world-class companies in Trinidad and Tobago's 2004 Competitive Bid Round. We see multiple exploration and development opportunities on both Blocks 2(ab) and 5(c) and await the result. At the same time, we are busy completing the front-end work for our current Trinidad work program on our joint venture acreage off the east coast of Trinidad with Petrotrin, in the Mayaro Bay/Guayaguayare area. Pending regulatory and government approvals, we are planning a high resolution 3D seismic program for mid-year, with exploration drilling commencing prior to year-end on our 'Trinidad Tradewinds Project' over the Mayaro/Guayaguayare Blocks."

    In October 2003, it was announced that Canadian Superior was entering into a major joint venture off the east coast of Trinidad with the Petroleum Company of Trinidad and Tobago Limited ("Petrotrin") in the Mayaro Bay/Guayaguayare area. The Mayaro/Guayaguayare Blocks are comprised of approximately 55,000 acres and are located near shore along the east coast of Trinidad, positioned between the large Navette (onshore) and Galeota (offshore) fields and on trend with the recently discovered 400 million barrel BHP/Total/Talisman Angostura field and the recent Aventura Carapal Ridge gas discovery.