News Releases 1998

C-NOPB MAKES SIGNIFICANT DISCOVERY DECLARATION

For Immediate Release
June 17, 1998

Mr. Hal Stanley, Chairman and CEO of the Canada-Newfoundland Offshore Petroleum Board announced today that the Board has made a significant discovery declaration based on the results of the Amoco et al West Bonne Bay C-23 well, which terminated in January, 1998 on Exploration Licence 1022.

Amoco Canada Petroleum Company Ltd. and its partners Amoco Canada Trading Company Ltd., Petro-Canada and Norsk Hydro Canada Oil and Gas Inc. had applied to the Board in April 1998 to have a significant discovery declared based on the results of its West Bonne Bay C-23 well. A significant discovery is one which by flow testing the well, demonstrates the existence of hydrocarbons in a geological feature and having regard to other geological and engineering factors, suggests an accumulation of hydrocarbons that has the potential for sustained production.

The West Bonne Bay significant discovery area is included within the lands held under EL 1022 and is described as sections 1, 2, 11, 12, 21, 22, 23, 31 and 32 as contained in the grid area whose N.E. grid co-ordinates are 46°40’N, 48°15’W (refer to the attached land plat). This declaration of significant discovery now enables Amoco to apply for a significant discovery licence respecting such area.

Any information obtained as a result of drilling the West Bonne Bay C-23 well, will remain privileged for two years following its termination and cannot be released by the Board without Amoco’s consent.

Land Plat

West Bonne Bay

For general information regarding this news release, please contact:

D. Angus Taylor
Manager, Legal and Land
Tel: (709) 778-1458

R. Paul Barnes
Analyst, Legal and Land
Tel: (709) 778-1440


News Releases 1998

DateUpdate
1998, Dec 22C-NLOPB Restricts Oil Production at Hibernia
1998, Dec 41998 Maps / Cartes
1998, Dec 3C-NOPB DECLARES CONFIGURATION OF TERRA NOVA COMMERCIAL DISCOVERY AREA
1998, Sep 181998 LAND SALE RESULTS
1998, Aug 21C-NOPB Releases its Decision Respecting the Application by the Terra Nova Alliance to use alternate standards for the selection of structural materials and the fabrication of the topsides modules for the Terra Nova Production System.
1998, Aug 21Backgrounder – The Role of the Certifying Authority
1998, Aug 21Backgrounder – C-NLOPB’s Regulatory Query Process
1998, Jul 15Terra Nova Engineering
1998, Jul 7HIBERNIA GEMEVAC INCIDENT
1998, Jun 30TERRA NOVA ENGINEERING
1998, Jun 17C-NOPB MAKES SIGNIFICANT DISCOVERY DECLARATION
1998, May 13NEW CHAIR AND CHIEF EXECUTIVE OFFICER APPOINTED FOR THE CANADA-NEWFOUNDLAND OFFSHORE PETROLEUM BOARD
1998, Mar 101998 Call for Bids
1998, Jan 15C-NLOPB APPROVES TERRA NOVA CANADA-NEWFOUNDLAND BENEFITS PLAN AND DEVELOPMENT PLAN
1998, Jan 15C-NLOPB APPROVES TERRA NOVA CANADA-NEWFOUNDLAND BENEFITS PLAN AND DEVELOPMENT PLAN
1998, Jan 15L’OFFICE CANADA – TERRE-NEUVE DES HYDROCARBURES EXTRACôTIERS APPROUVE LE PLAN DE RETOMBéES éCONOMIQUES ET LE PLAN DE MISE EN VALEUR DE TERRA NOVA
1998, Jan 141997 LAND SALE RESULTS