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Oil & Gas Journal

By OGJ editors
HOUSTON, Sept. 8 -- Talisman Energy Inc., Calgary, said its Fortuna Energy Inc. unit completed two exploratory gas wells in the Ordovician Black River formation in the Finger Lakes region.

Fortuna Ganung Hz on a nonproducing structure in Schuyler County tested at rates up to 2.4 MMcfd despite unspecified operational problems. It is to be hooked to a gathering system.

Fortuna Konstantinedes HZ in Chemung County flowed as much as 10.4 MMcfd and was shut-in for pressure buildup. It is to be tied to a Columbia high-pressure transmission line by yearend 2003.

Fortuna's first two operated wells on its recently acquired New York properties, the wells "have healthy economics at rates below half a million cubic feet per day," said Talisman president and CEO Dr. Jim Buckee.

Fortuna was drilling Hepfner, its third well. Two more rigs are to begin drilling in September and October. The company's 2003 budget for the area is $46 million.