FCP Cases 9th Successful Well on Block 405b in Algeria

First Calgary Petroleums Ltd. reports the initial results from the drilling of MZLS-1, an exploration well located on FCP's 100% held Ledjmet Block 405b in Algeria. Wireline logging of MZLS-1 indicates the presence of 51 meters of net hydrocarbon pay over multiple geological intervals. Production testing is anticipated to commence in early November.

The MZLS-1 well, drilled to a depth of 4,500 meters, is located 6.3 km southwest and on the same fault block as the MZLN-1 well, which production tested 45,596 barrels of oil equivalent per day.

Martin Layzell, Vice President, Exploration and Operations stated, "We are very excited by these results. MZLS-1 is FCP's ninth cased well on the Block and is located over 6 km south of the MZLN-1 well and west of the recently announced LES-1 cased well. The logging results confirm the extension of the known area of hydrocarbon saturation towards the southern boundary as well as towards the west of Block 405b."