Canadian Superior Begins Marquis Seismic Program
Canadian Superior Energy Inc. of Calgary, Alberta announced that in association with Geophysical Service Incorporated of Houston, Texas that the Company is proceeding ahead with the acquisition of 1,100 kilometers of high-resolution seismic coverage over Canadian Superior's Offshore Nova Scotia Marquis Prospects.
Canadian Superior's East Coast Exploration Manager, Gerold Fong, stated that the high-resolution seismic data will be shot over the next 45 days at a cost of approximately $2.5 Million to finalize the drillsite locations on two world-class prospects proposed for drilling later this year on Canadian Superior's "Marquis Blocks" on the Scotian Shelf Offshore Nova Scotia.
The Scotian Shelf represents one of the greatest opportunities in North America for oil and gas exploration and development. The world-class nature of this basin and its reserves has recently been recognized by Goldman Sachs Global Equity Research, Cambridge Energy Research Associates, Ziff Energy Group and several others.
Fong said Canadian Superior is proceeding ahead with drilling planned for September of this year on its "Marquis Prospects" Offshore Nova Scotia on what is arguably one of the most exciting prospects in the Atlantic. The Company's new holdings are located approximately 12.5 miles northwest of Sable Island and are directly on trend and analogous to PanCanadian's recent Panuke Abenaki Reef Natural Gas Discovery, approximately 15.6 miles to the southwest where several new wells have been recently tested with productive capacity each in excess of 50 MMCF/D. PanCanadian's discovery is expected to produce up to 500 MMCF/D when it is brought on line through a new pipeline recently announced by PanCanadian. Canadian Superior's properties are in shallow water depths (300 feet) in close proximity to newly constructed pipeline infrastructure connecting 500 MMCF/D of Sable Island natural gas to vibrant New England natural gas markets.