Canadian Superior Commits to Rig for Drilling Offshore Tunisia
30 Aprile 2010 - 2:33PM
Marketwired
Canadian Superior Energy Inc. ("Canadian Superior" or the
"Company") (TSX: SNG)(NYSE Amex: SNG) announces today that it has
signed an Assignment and Transfer Agreement with BG Tunisia Limited
and ENSCO Offshore International Company related to the ENSCO 105
drilling rig. The ENSCO 105 is a 'jackup' rig (independent leg
cantilever) built in 2002 and rated for water depths up to 375 feet
and drilling depths down to 30,000 feet. This rig has been in the
Mediterranean for the last few years on contract with BG. It is
anticipated that Canadian Superior will take operational possession
of the rig sometime in the 4th quarter of 2010 for the drilling of
the Zarat North appraisal well on the 7th of November Block,
offshore Tunisia / Libya.
The well will be drilled to approximately 3000 metres to test
the El Gueria Formation. It is anticipated the well will take 45
days to drill and evaluate with a possible testing program to
follow.
Canadian Superior is the operator of the 7th of November Block.
Under a Participation Agreement, Canadian Superior holds a direct
50% interest in the Block and holds the remaining 50% interest in
trust for a third party which is also obligated to pay 50% of
project costs.
Canadian Superior Energy Inc. is a Calgary, Alberta, Canada
based diversified global energy company engaged in the exploration
and production of oil and natural gas and in the development of a
liquefied natural gas project. Its operations are located in
Western Canada, offshore Trinidad and Tobago, North Africa,
offshore Eastern Canada, and offshore Eastern United States.
See Canadian Superior's website at www.cansup.com to review
further detail on Canadian Superior's operations.
This news release contains "forward-looking information" (within
the meaning of applicable Canadian securities laws) and
"forward-looking statements" (within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995). Such statements
or information are identified with words such as "anticipate",
"believe", "expect", "plan", "intend", "estimate", "propose",
"project" or similar words suggesting future outcomes or statements
regarding an outlook. Such statements include, among others, those
relating to the proposed date upon which the Company anticipates
taking operational possession of the rig, anticipating drilling
results, and anticipated timing for drilling and evaluation of
results.
Such forward-looking information or statements are based on a
number of risks, uncertainties and assumptions which may cause
actual results or other expectations to differ materially from
those anticipated and which may prove to be incorrect. Assumptions
have been made regarding, among other things, operating conditions,
availability of capital, and capital and other expenditures. Actual
results could differ materially due to a number of factors,
including, without limitation, risks of project delays and
unsuccessful drilling results, environmental risks, risks
associated with foreign operations and risks in relying on industry
partners to comply with their obligations. These and other
assumptions and risks are set out in detail in the Company's Annual
Information Form, available on SEDAR at www.sedar.com, and the
Company's annual reports on Form 40-F or Form 20-F on file with the
U.S. Securities and Exchange Commission.
Although the Company believes that the expectations reflected in
the forward-looking information or statements are reasonable,
prospective investors in the Company's securities should not place
undue reliance on forward-looking statements because the Company
can provide no assurance that such expectations will prove to be
correct. Forward-looking information and statements contained in
this news release is as of the date of this news release and the
Company assumes no obligation to update or revise this
forward-looking information except as required by law.
Contacts: Canadian Superior Energy Inc. Investor Relations (403)
294-1411 (403) 216-2374 (FAX) www.cansup.com Canadian Superior
Energy Inc. Suite 3200, 500 - 4th Avenue S.W. Calgary, Alberta,
Canada T2P 2V6
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