Ecuador's Amistad gas drilling encourages Samedan-EDC

Click here to enlarge imageDevelopment of a gas field in the Tumbes basin off Ecuador designed to support a power plant has yielded positive initial results.The first development well in a four well program at Amistad gas field cut thicker gas pay than expected, and the second well is drilling.Noble Affiliates Inc., Ardmore, Okla., operates the project and holds 100% working interest through subsidiaries Samedan Oil Corp. and EDC Ecuador Ltd.Noble booked 87.5 bcf of gas reserves associated with Amistad field in 1999 and will add more reserves this year if drilling results go as expected. In fact, Noble Chairman, President, and CEO Robert Kelley told an investment conference in Houston i...

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