Canada-Newfoundland Offshore Petroleum Board - Weekly Public Status Report

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

Weekly Public Status Report
Oil and Gas Activities Offshore Newfoundland and Labrador
Issued as of: June 25, 2001
(Also available at: //www.cnopb.nfnet.com)

Geoscientific Programs	Operator/Survey (Location)	Vessel	Start Date	Km's Completed (Total Planned)	Comments
8924-G005-00SP	GSI/2-D Seismic South Newfoundland	MV Professor Poloskov	May 5, 2001	3,217 (14,400)	Survey suspended June 22, 2001. 814 km. acquired this week
8924-G004-003E	Chevron/3-D Seismic South Flemish pass	Veritas Viking 1	June 23, 2001	716 (7,139)	Program is a continuation of survey started in 2000
8924-G005-006P	GSI/2-D Seismic South Newfoundland	MV Professor Poloskov	June 24, 2001	88 (18,518)	88 km acquired this week

Hibernia Drilling Program
Well / Location	Installation	Spud Date	Current Depth (Projected Total Depth)	Current Status
HMDC Hibernia B-16 26 46 45' 01.427" N; Lat. 48 46'53.487"W: Long. Licence: PL 1001	Hibernia Platform M71 (East Rig)	April 21, 2001	7,050 M (8,162 M)	Preparing to pressure test 273 x 244 mm casing
HMDC Hibernia B-16 27 46 45' 2.139" N; Lat 48 46' 54.529" W; Long. Licence: PL 1001	Hibernia Platform M72 (West Rig)	April 25, 2001	5,886 M (5,873 M)	Preparing to run 178 mm liner

Terra Nova Drilling Program
Well / Location	Installation	Spud Date	Current Depth (Projected, Total Depth)	Current Status
Petro Canada et al Terra Nova G-90 1 46 29'21" N; Lat. 48 27'37" W; Long. Licence: SDL 1032	enry Goodrich	July 23, 1999	4,130 M (4,130 M)	Well completed June 24, 2001**

Terra Nova site Preparation
Vessel	Location	Start Date	Current Status
Tideway Seahorse*	Terra Nova Field	May 2, 2001	Rockdumping activities completed June 22, 2001***

* Petro Canada has contracted the Tideway Seahorse, a fall pipe (rock dumping) vessel, to bury the flowlines and control umbilicals at the Terra Nova field. The vessel commenced operation at the Terra Nova site on May 2, 2001

** Petro Canada et al Terra Nova G-90 2W has been completed as of June 12, 2001, and subsequently will be removed from future reports.

***Tideway Seahorse rockdumping activities at the Terra Nova field were completed as of June 22, 2001, and subsequently will be removed from future reports.

BOP/BOP Stack: Blowout preventers/blowout preventer stack - an assembly of heavy-duty valves attached to the wellhead to control well pressure and prevent a blowout.

Casing: Steel pipe set in a well to prevent the hole from sloughing or caving and to enable formations to be isolated (there may be several strings of casing in a well, one inside the other).

Cementing: Pumping a liquid slurry of cement, water and other additives behind a string of casing to isolate formations.

Completion/Completed: The activity necessary to prepare a well for the production of oil or gas or the injection of water or gas into the reservoir.

Injecting: Injecting water or gas into the resevoir for the purpose of maintaining resevoir pressure, maximizing oil recovery and conserving resources.

Liner: A length of casing suspended from the base of a previously installed casing string (a liner does not extend back to the surface of the well).

Logging: Acquisition of downhole data using tools run in the well, usually on wireline.

Perforate/Perforating: Piercing the casing and cement using shaped explosive charges to provide a flow path for formation fluids

Producing/Production: Flowing oil and/or gas from a well to the production systems.

Production tree: An arrangement of heavy duty valves and fittings installed on the wellhead to control flow from the well and/or to facilitate injection operations.

Reaming: An operation to restore a wellbore to its original diameter (occasionally, a wellbore will cave in).

Seismic kilometers completed: The total number of kilometers of data recorded in a geophysical program.

Shut-in: A well in which the valves in the production tree have been closed to cease production or injection operation on a well.

Spud: The initial penetration of the ground or seafloor - the start of the drilling operation.

Suspension/Suspend: The temporary cessation of drilling or production operations in a well.

Wellhead: Steel equipment installed at the surface of the well containing an assembly of heavy duty hangars and seals (the wellhead is used to support the weight of casing strings hung from it and to contain well pressure).