Area Drilling

June 19, 2006
Taghmen Energy PLC, London, reentered the 1XA well on the 6-93 license in late May 2006 and kicked off at 5,810 ft.

Guatemala

Taghmen Energy PLC, London, reentered the 1XA well on the 6-93 license in late May 2006 and kicked off at 5,810 ft. Drilling time is 35 days to 10,000 ft.

It plans to spud the Huapac 2X well on 6-93 in late July to drill to a bottomhole location based on 2D seismic data acquired earlier this year.

Meanwhile, the environment ministry granted technical approval to convert the planned 3D seismic survey on License 7-05 (Tortugas/Atzam) to a 2D project. The first of three well workovers is to start in late June.

Both licenses are in the Peten basin.

British Columbia

Questerre Energy Corp. and Transeuro Energy Corp., both of Calgary, amended a farmout and operating agreement to call for a five-well drilling program at Beaver River field in northeasternmost British Columbia.

The A-2 well has exceeded expectations and is producing 2.2 MMcfd of gas against 1,000 psi pipeline back pressure. The results support development of the Devonian Besa River shale/Mississippian Mattson sands as a tight gas resource play, the companies said.

New wells have the potential to perform better than A-2, which was a recompletion of a 40-year-old well bore.

The new program, to run from August 2006 and extend into the first half of 2007, calls for 4 Besa River/Mattson development wells and 1 Devonian Nahanni development well.

Transeuro will earn 50% of all lands and all infrastructure upon completion of 1 Besa River/Mattson well and the Nahanni well. The following three Besa River/Mattson wells will be joint wells.