CPN 0.00% 7.9¢ caspin resources limited

announcement

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    29 April 2004
    Australian Stock Exchange
    Electronic Lodgement
    Ja3a well to commence production test, good results expected,
    further drilling planned
    Carpathian is pleased to announce that an agreement has been reached
    with the drilling contractor of the Ja3a well over the poor cement bond
    which will result in a refund to Carpathian’s wholly owned subsidiary, Nord
    Gas sro, of CZK 3,000,000 (A$150,000).
    Following the execution of documents, which is expected to take place in
    the next 24 hours, the gas zone will be perforated, the rig removed and
    the production test will commence. Data from the test will assist in
    determining potential reserves of the Janovice field and final flow rates
    when the well is placed on permanent production. Considering the
    substantial thickness of the gas zone (33 metres) and the excellent
    permeability and porosity of the sands, Carpathian expects a very
    successful test and good flow rates.
    Carpathians partner in Janovice, Unigeo is currently completing mapping
    of the field incorporating the Ja3a data and is expected to recommend
    that a well located close to the Ja9 well be drilled as soon as possible.
    In addition Unigeo will shortly commence permitting work for the production
    pipeline.
    Further details of the test will be released when they become available.
    For further information contact :
    Douglas Jendry
    Director
    Carpathian Resources Ltd
 
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