Cygam Energy and Loon Energy Delay testing on tunisian well

Cygam Energy and Loon Energy Delay Testing on Tunisian Well

09-11-2007

Two Calgary-based junior oil and gas producers, Loon Energy Inc. and Cygam Energy Inc. Announced that production testing of the Bhayra Rigo No.1 well on the Jorf permit in Tunisia has been delayed because of safety regulations and other technical reasons.

The companies had planned to test on that well at a depth of 1,400 metres and several “potential areas of interest.‘‘

Those test cannot be currently completed due local safety regulations and other technical reasons and will have to be conducted at a later date, the companies said.

The Jorf permit encompasses an area of about one million acres.

Loon also has direct interests in projects in Brunei, Syria, Colombia, Peru and Slovenia as well as an indirect interest in Pakistan through its shareholding in Jura Energy Corp.

Cygam owns producing oil and gas properties in Canada and as well as extensive international exploration concessions.