First Calgary Petroleums Ltd. Commences Drilling of Third Exploration Well on Block 405b

Source: www.gulfoilandgas.com 7/28/2004, Location: Africa

First Calgary Petroleums Ltd. (FCP) announces that drilling operations have commenced on the LES-1 exploration well on the Company’s Ledjmet Block 405b in Algeria. The LES-1 well is the third exploration well to be drilled by FCP on the Ledjmet Block. The well is located 10 km southwest of the recently cased LEC-1 exploration well drilled by FCP and 18km south-west of the MLE Field, which now has five cased gas and condensate wells. The LES-1 well has a projected total depth of 4500 metres and is expected to take 60 days to drill and log.

LES-1 is the latest in a series of exploratory wells being drilled by FCP which aims to evaluate the southern part of the Ledjmet Block and prove up the continuation of the prolific Berkine Basin hydrocarbon trends across FCP’s acreage.

First Calgary Petroleums Ltd. is an oil and gas exploration company actively engaged in international exploration and development activities in Algeria. The company’s common shares trade on the Toronto Stock Exchange in Canada (FCP) and on the AIM market of the London Stock Exchange in the UK (FPL).



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