PanCanadian Names Manager For Deep Panuke Project

PanCanadian Petroleum Limited is pleased to announce the appointment of Malcolm Weatherston as Project General Manager for the Deep Panuke Gas Development Project offshore Nova Scotia, effective July 9, 2001.

Mr. Weatherston comes to PanCanadian with more than 20 years of experience in the domestic and international oil and gas industry, having worked for both major operators and offshore construction firms. Most recently, he has served as project general manager for the Terra Nova oil development offshore Newfoundland.

Mr. Weatherston will be based in Halifax and provide leadership to the Deep Panuke project team, with responsibility for the design, construction, installation, commissioning, and transition to operations. He will report to Larry LeBlanc, PanCanadian's Vice President, East Coast Operations.

Deep Panuke is located 250 kilometres southeast of Halifax, Nova Scotia. Since 1999, PanCanadian has drilled four wells in the field, each of which tested at rates in excess of 50 million cubic feet of gas per day. PanCanadian has a 100 per cent interest in the Deep Panuke development. The company plans to file a Development Plan Application for Deep Panuke with the Canada-Nova Scotia Offshore Petroleum Board in the fourth quarter of 2001. Front-end engineering design work has begun in parallel with the regulatory approval process.