Canadian Superior's East Ladyfern Test Well Successful
Canadian Superior Energy reports that its initial East Ladyfern test well located at 07-02-92-11 W6M has been successfully drilled to a total depth of 9,393 feet to evaluate the Slave Point formation. A step-out well is currently being drilled to a depth of 9,482 feet at 12-27-91-11 W6M. It will take approximately 4 weeks to drill the step-out well to total depth and it is expected that both wells will be production tested, and if time permits, tied-in, prior to spring break-up.
Canadian Superior has a 75% interest in both wells with a major oil and gas company participating for 25%. Canadian Superior has a very large acreage position comprising of 22 contiguous sections of land which is located approximately 22 miles East Southeast and updip of the main Ladyfern gas field.
The East Ladyfern play is based on extensive seismic data acquired and shot by Canadian Superior updip from the main Ladyfern field on the Slave Point carbonate bank during the fall of 2001 and winter of 2002 which has identified multiple Slave Point natural gas opportunities on the Company's extensive holdings analogous to the main Ladyfern field and other major pools in the immediate area. A decision was made after the original Murphy/Apache Ladyfern discovery to concentrate on the acquisition of acreage updip and East of Ladyfern where very little seismic data had been shot by industry due to the remote nature of the location. Henceforth, Canadian Superior has been able to acquire extensive acreage on this highly competitive natural gas play on a reasonable basis prior to industry focusing on this area.
Canadian Superior's East Ladyfern multi-well drilling program is part of a focused exploration and development program Canadian Superior is conducting in Western Canada.