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May 14, 1996
(Mines and Energy)


The following is being distributed at the request of Canada-Newfoundland Offshore Petroleum Board:

St. George's Bay well approved

The Canada-Newfoundland Offshore Petroleum Board has issued an approval to drill a well to Newfoundland Hunt Oil Company Inc. (NHOC) for a well offshore western Newfoundland. PanCanadian Petroleum Limited (PCP) is a 50 per cent partner in the well.

NHOC/PCP St. George's Bay A-36 is expected to be spudded with the Rowan Gorilla IV by May 15, 1996. The well is located at 48 degrees 25' 4.5" north; 59 degrees 19' 31.7" west, approximately six kilometres southwest of Cape St. George on the Port au Port peninsula. Water depth at the well site is approximately 80 metres. Drilling is expected to take between three and four months.

Contact: John Fitzgerald, A/Chairman, Canada-Newfoundland Offshore Petroleum Board, (709) 778-1452.

1996 05 14 1:00 p.m. /md

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