Big Bounty: Canadian Superior Spuds Bounty Well Offshore Trinidad

Canadian Superior Energy Inc. has successfully spudded the Bounty well on the Intrepid Block 5(c) offshore Trinidad earlier today Wednesday, February 20, 2008 with the Kan Tan IV semi-submersible drilling rig along with its partners, BG International Limited and Challenger Energy Corp. The Bounty well is located approximately 2.2 miles from the recently announced Victory well natural gas discovery on the Intrepid Block 5(c).

"I am pleased to report that we have commenced drilling the Bounty well," Canadian Superior's CEO Craig McKenzie said, "and based on analysis of reprocessed 3D seismic covering the area and offsetting well data, including that of nearby producing fields, the primary objective of the Bounty well is to prove up higher pressure horizons that includes multiple potential reservoirs and is a deeper, separate geologic structure from that discovered in the Victory well. Secondary objectives include possibly drilling into at least one of the productive horizons penetrated in the Victory well."

The Bounty well is planned to be drilled to a total vertical depth of approximately 18,000 feet subsea in about 1,000 feet of water and is expected to take approximately 110 days to drill. The Kan Tan IV semi-submersible drilling rig is also under firm contract to drill the 3rd well, Endeavour, scheduled to commence directly following Bounty.

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