FCP Begins Production Testing on MLE-5 in Algeria

First Calgary Petroleums Ltd. commenced production testing operations on the MLE-5 appraisal well and drilling operations on the LEC-1 and ZCH-1 exploration wells.

On FCP's Ledjmet Block 405b, MLE-5 production testing operations are underway and are scheduled to take 40 days to complete. The MLE-5 well targeted a separate fault block on the eastern portion of the MLE field. The MLE-5 well, drilled to a depth of 4,437 metres, has 55 metres of estimated hydrocarbon pay over multiple intervals.

The drilling rig is on location at LEC-1 and drilling is expected to commence early next week. LEC-1, FCP's first exploration well on the Ledjmet Block 405b, is located 8.4 km southwest of the MLE-2 gas and condensate well and is targeting multiple horizons on a structural high, separate from the MLE field. The well has a projected total depth of 4,525 metres and is anticipated to take 60 days to drill, log, and case.

Drilling operations have commenced on the ZCH-1 well, situated on the Company's Yacoub Block 406a. The well is located on the southeast portion of the block and is targeting a fault-controlled structure having light oil potential in multiple horizons. The well has a planned total depth of 3,750 meters and is expected to take 40 days to reach total depth.