FCP Begins Drilling at Block 405b in Algeria

First Calgary Petroleums reports that drilling operations have commenced on the MZLN-1 exploration well on the Company's Ledjmet Block 405b in Algeria.

The MZLN-1 well is the second exploration well drilled by FCP on the Ledjmet Block. The well is located 5.4 km west of the recently cased LEC-1 exploration well drilled by FCP and 13 km west of the MLE Field, which now has five cased gas and condensate wells. The MZLN-1 well also offsets the abandoned gas and condensate well, MZL-1, drilled by Hispanoil in 1987.

The MZLN-1 well has two objectives: to confirm and extend the hydrocarbon pay identified in the MZL-1 borehole and to explore for new reserves in additional geological horizons. The well has a projected total depth of 4500 meters and is expected to take 60 days to drill and log.