Canadian Superior Preps for Drilling Offshore Trinidad

Canadian Superior Energy confirmed that the scheduled refurbishment of the Kan Tan IV semisub is nearing completion. The rig is contracted to drill three separate exploration prospect wells, Victory 1, Bounty 1 and Endeavour 1 on separate large natural gas prospects, off the east coast of Trinidad, on Canadian Superior's Intrepid Block 5(c).

Each of these prospects has been named after a famous British sailing ship, the "Victory", the "Bounty" and the "Endeavour". The wells will evaluate three large, separate world-class prospects that have been delineated by extensive 3D seismic Canadian Superior has interpreted over its entire Intrepid Block 5(c). Once the Kan Tan IV has completed its scheduled refurbishment program currently underway in Brownsville, Texas, the drilling rig will undergo acceptance and safety testing and then will be towed to Trinidad where it is expected to spud the Victory 1 well around March 15, 2007.

Each of these Intrepid Block 5 (c) offshore exploration wells will be High Pressure ("HP") wells, each drilled to a depth of about 5,000+ m (16,400+ feet) and each well is expected to take between 100 - 120 days to drill, test and complete. The initial three well drilling program will take approximately one year to complete.

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