Canadian Superior updates Kan Tan IV status for Trinidad

Canadian Superior Energy Inc. is preparaing to tow the Kan Tan IV semisubmerisble to Trinidad. Maersk Contractors, part of A.P. Moller - Maersk A/S, will manage the drilling rig, which is owned by Sinopec Star Petroleum Co. Ltd. of Beijing.

Offshore staff

CALGARY, Alberta -- Canadian Superior Energy Inc. is preparaing to tow the Kan Tan IV semisubmerisble to Trinidad. Maersk Contractors, part of A.P. Moller - Maersk A/S, will manage the drilling rig, which is owned by Sinopec Star Petroleum Co. Ltd. of Beijing.

TheKan Tan IV has been undergoing a $60-million refit in Brownsville, Texas. The rig is scheduled to begin drilling on Canadian Superior's Victory prospect in Intrepid block 5(c). Maersk expects to begin towing the semi near the end of March.

Canadian Superior has contracted theKan Tan IV to drill three wells on separate natural gas prospects, Victory, Bounty, and Endeavour, approximately 97 km (60 mi) off the east coast of Trinidad.

"As with any major construction and refurbishment program of this nature, the rig refurbishment has taken longer than we and Maersk and Sinopec had originally planned, but I am pleased to say that we are very close now, and I fully expect the rig to be under tow for Trinidad before the end of March," says Mike Coolen, Canadian Superior president and COO.

"Once the rig is towed to the port of Chaguaramas in Trinidad to load supplies and finalize drilling preparations, it will move to the first drilling location, Victory-1. This should allow us to spud this first well on the Intrepid block prior to the end of April."

3/15/2007

More in Drilling & Completion