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Calgary, Alberta, March 17, 2004 - Heritage Oil Corporation announced today that following the recently completed formation pressure test program on the Turaco-2 well in Uganda, it has mobilized cased-hole testing equipment to conduct production tests over four separate hydrocarbon-bearing intervals in the well.
The Company had originally planned an open-hole drill stem test for Turaco-2. However, the interpretation of the wireline logs, which indicated the presence of hydrocarbons in two extensive zones, supplemented by the results of the formation pressure test program, indicates a more comprehensive program is required to adequately test the well.
"Our interpretation of the wireline logs and the results of the formation pressure test program have strongly convinced us to case the well and conduct a series of independent tests of several different intervals. This upgraded plan is more costly and time-consuming, but a necessity given the information we now have from the formation itself," said Heritage Chairman and CEO, Micael Gulbenkian.
Both the new test equipment and casing are en-route via sea and air freight from as far away as Singapore, UAE, UK and Germany.
Mr. Gulbenkian added that "in view of the level of encouragement we have received from this well we have to be slightly more patient than previously anticipated. The casing is expected to arrive on-site by mid-April. Production tests will then commence immediately, and we anticipate the multi-zone program will take three to four weeks to complete."
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