Petro-Canada Drills Duster in Flemish Pass

Petro-Canada and its partners report that the Tuckamore B-27 exploration well, located in the Flemish Pass 445 kilometers east of St. John's, Newfoundland, is being abandoned. The well was drilled by Ocean Rig's semisub, Eirik Raude. Petro-Canada's Tuckamore B-27 partners are EnCana Corporation and Norsk Hydro Canada Oil & Gas Inc. The partners will be evaluating results from the exploration well to assess ongoing strategy.

Petro-Canada will be integrating these results with others from its 2003 East Coast drilling program to make plans for its 2004 activities. The East Coast continues to be a core business focus for the company.