FCP Makes Discovery with MZLN-1 Well in Algeria

First Calgary Petroleums Ltd. announces preliminary drilling results from the MZLN-1 well on the Ledjmet Block (405b) in Algeria. Initial interpretation of the wirelinelogs indicates the presence of 74 meters of net hydrocarbon pay over multipleintervals. Production testing is anticipated to commence within four weeks, subject to equipment availability.

MZLN-1, drilled to 4460 meters, is located 5.4 km west of FCP's recently cased LEC-1 exploration well and 13 km west of the MLE Field. The well was drilled to confirm and extend the hydrocarbon pay identified in the MZL-1 borehole and to explore for new reserves in additional geological horizons. The production testing will target multiple reservoir horizons from the Lower Devonian to the Triassic-age sandstones.

The production testing of the LEC-1 well is continuing with final results expected in September. LEC-1 was drilled on a structural closure 8 km west of the MLE Field and has 42 meters indicated hydrocarbon pay on logs.