Gulf increase estimates

Gulf increase estimates

CALGARY (Reuter): Gulf Canada Resources Ltd and Talisman Energy Inc said Tuesday they drilled a successful step-out well that indicated a much bigger natural accumulation than was expected following their 1995 Sumpal-1 discovery well in Indonesia.

"This has the potential to be a major discovery, which is always a treat with step-out wells," said Gulf Canada spokesman John Sparks.

The step-out, Sumpal-2, is located 3.0 km from the original discovery well on the Corridor Block Production Sharing Contract area in Indonesia.