Their 48% owned Canadian subsidiary, Circumpacific Energy Corporation, has reported a major gas find at its deep gas well in west central Alberta. The TLM Rax 16-8-52-22 well encountered gas in a number of zones in the Cardium Formation. The other partner in the well is Talisman Energy, Canada's largest gas exploration company.
The well is expected to brought on line by the middle of this year after production testing and the discovery of this well is expected to lead to the drilling of follow up development wells, Drillsearch said. The development will also tie in a suspended discovery well, drilled in late 2000.
Kelso said he was constrained from reporting certain details of the well due to confidentiality clauses with Talisman.
He said he was pleased that the combined shallow and deep gas exploration strategy was paying off. "We've had three successes from three with Talisman and we hope to bring this into production very soon. We hope to have Lambert online by the first of June," said Kelso.
Kelso said also that recent news on the possible development of Blacktip was very encouraging as they recently were awarded three permits adjacent to the Woodside operated discovery. "In one of the blocks we have the Leseuer well, drilled in 1980, which had a 170 metre zone exhibiting residual gas shows."
