Business
Shell Canada provides update on Tay River
Shell Canada provides update on Tay River.
About this update from Mapath Capital Corp
[{"type":"text","content":"\n\n\n\n\nCALGARY, Nov. 1 /CNW/ - Shell Canada announced today that the Shell Tay\nRiver Ricinus W 13-01-37-11-W5 well (Shell Canada Limited 75 per cent) that\nwas planned to appraise the extent of the Tay structure has reached total\ndepth. This well confirmed the presence of gas in the Leduc reef at the\nlocation but the total pay thickness was insufficient for the well to be\ncommercial.\nThis appraisal well has confirmed Shell Canada's ability to map\nsignificant structures that are technically complex; however it also\nhighlights that reservoir thickness within these structures remains a risk.\nRecent pressure information from the discovery well (Shell Tay River Ricinus W\n2-6-37-10 W5M) also supports that the Tay River structure is smaller than\noriginally estimated and contains approximately 220 billion cubic feet of\noriginal raw gas in place.\nThe discovery well continues to produce at rates of approximately 90\nmillion cubic feet per day and has produced over 35 billion cubic feet of raw\ngas since May 2005.\nAlthough Shell Canada is not planning any additional wells on the\noriginal Tay River structure, the company continues to explore for other Leduc\nreef opportunities in the central Alberta region.\n\nCautionary Note\n\nThis document contains \"forward-looking statements\" based upon\nmanagement's assessment of the Company's future plans and operations. These\nforward-looking statements include references to the Company's plans for\ngrowth, future capital and other expenditures, drilling, development and\nexpansion plans, construction activities, increased network efficiency,\nmaintenance turnaround schedules, the submission of regulatory applications,\nthe timing of investment decisions, project costs and schedules and oil and\ngas production levels.\nReaders are cautioned not to place undue reliance on forward-looking\nstatements. Although the Company believes that the expectations represented by\nsuch forward-looking statements are reasonable based on the information\navailable to it on the date of this document, there can be no assurance that\nsuch expectations will prove to be correct. Forward-looking statements involve\nnumerous known and unknown risks and uncertainties that could cause actual\nresults to differ materially from those anticipated by the Company. These\nrisks and uncertainties include, but are ...