Tunisia

Chinook Energy Inc., formerly Storm Ventures International Inc., plans to spud the TT3 appraisal well on the Sud Remada permit in Tunisia in early October 2010, said Cygam Energy Inc., Calgary.

Aug. 30, 2010

By OGJ editors
HOUSTON, Aug. 30 – Chinook Energy Inc., formerly Storm Ventures International Inc., plans to spud the TT3 appraisal well on the Sud Remada permit in Tunisia in early October 2010, said Cygam Energy Inc., Calgary.

The TT3 well will be located 2.3 km southwest of the TT2 discovery well on the 67-sq km TT structure.

Chinook hopes to have an agreement and approvals in support of the first phase of commercial development early in 2011, as well as follow-up exploration potential on the El Bell structure that has been identified on existing seismic.

The undrilled El Bell structure covers 74 sq km about 17 km northeast of the TT2 discovery well. Cygam will participate for its 14% direct working interest in all appraisal, development, and exploratory operations at Sud Remada.