Business Services Industry
Abacan Spuds Ngo #6 Well in Niger Delta
Business Wire, March 7, 1997
CALGARY, Alberta--(BUSINESS WIRE)--March 7, 1997--Abacan (TSE:ABC., NASDAQ:ABACF.) Abacan Resource Corporation announced today that drilling has commenced on Ngo #6, a development/appraisal well located to the North of the Ngo Field in the Niger Delta. The well is being drilled by Sedco Forex "Trident VIII" jack-up drilling rig. Total estimated cost of Ngo #6 is US $7 million.
Abacan's five wells drilled previously in the Niger Delta all encountered multiple hydrocarbon zones including up to five oil and condensate sands and two separate gas zones.
The extent of the Ngo Field has not yet been determined. The location of Ngo #6 was based on a comprehensive 3-D seismic program which was run over Blocks 469 and 237 in mid-1996.
Abacan began producing oil from its Ngo Field in December 1996.
CONTACT: Abacan Resource Corporation
Wade Cherwayko, 403/262-1220
Ms. Lon Boshouwers, 403/262-1220
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