Canadian Superior Successfully Sidetracks Victory Well

Canadian Superior Energy says the 12-1/4" section of the "Victory" well has been successfully side-tracked, drilled, logged, cased (9-7/8") and cemented to a depth of approximately 13,828 feet subsea. Canadian Superior and its joint venture partners BG and Challenger Energy are now preparing to drill the next and final section of the well, the 8-1/2" hole section, to a total depth of approximately 16,000 feet. However, a first step in the commencement of drilling is the safe pressure testing of the subsea BOP, which sits on the seafloor at a depth of approximately 800 feet below the ocean surface. When this safety test was performed a leak was detected.

The BOP has to be recovered to the rig floor for repair and retesting, but the pulling operations have been delayed temporarily due to high seasonal ocean currents. These ocean currents are called ring or loop currents, which develop and move along the east coast of South America and progress northward off the east coast of Trinidad. Normal operations are expected to recommence in the coming days, and once the BOP is repaired and retested, the drilling of the final section will begin immediately.

Speaking today, Craig McKenzie, Canadian Superior's Chief Executive Officer said, "In my experience in Trinidad, these ring currents are seasonal at this time of the year and affect only certain drilling operations such as the lowering or raising of equipment to or from the sea bottom. One such operation is the safe raising and lowering of a BOP to and from the seafloor. We all are anxious to see these currents pass our location so that we can repair the BOP leak and get back to drilling. Although the waiting time is frustrating, these currents are experienced at this time of the year off the east coast of Trinidad. In the mean time maintenance work is being performed on the drilling rig to expedite drilling of our multi-well drilling program. Further updates on the well will be provided in due course."