Looking better todayCALVALLEY PETROLEUM INC. - DELIVERS FIRST OIL INTO MASILA EXPORT PIPELINE SYSTEM
Apr. 12, 2011 (Canada NewsWire Group) --
CALGARY, April 12 /CNW/ - Calvalley Petroleum Inc. (TSX: CVI.A)
Calvalley Petroleum Inc. ("Calvalley" / "Company") is pleased toannounce that it has commenced delivery of Block 9 production of crudeoil into the Masila Export Pipeline System ("MEPS") through theCompany's Truck Offloading Facilities ("TOF") located at Block 51.Current deliveries utilize existing space in the Block 51 meteringsystem. This temporary arrangement will be in place until early Maywhen the Company's own metering system will be fully functional.
With the initiation of operations at the TOF, Calvalley is a now able tobegin production of the first commercial oil from the Ras Nowmah and AlRoidhat fields, into the MEPS.
As well, and despite the unsettled security environment in Yemen,Calvalley continues its activities, as close to normal as possible,with two drilling rigs and one service rig in operation.
Completion of the TOF is a major milestone in Calvalley's program ofincreasing production, by bringing significant volumes of shut-inproduction on line, takes advantage of higher oil prices and marketaccessibility provided by the MEPS. As a result, all of Calvalley'sblended crude oil will receive the Masila Blend price which isbenchmarked to Brent Crude pricing.
Calvalley is an international oil and gas company, with offices inCalgary, Alberta, Canada, that operates its 50% working interest inBlock 9 of the Masila Basin, in The Republic of Yemen. Calvalley alsooperates its 100% working interest in the Gimbi and Metema Blocks ofthe Blue Nile Basin, in The Republic of Ethiopia.