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November 2002

Vol. 7, No. 47 Week of November 24, 2002

Kenai officials endorse Katalla project

Petroleum News Alaska Staff

On Nov. 6 the Kenai City Council passed a resolution urging the U.S. Forest Service to approve Cassandra Energy Corp.’s plan of operations for an exploratory drilling program at Katalla, site of Alaska’s first commercial oil production.

Although the public comment period for the environmental assessment has ended, Bill Stevens, president of Cassandra, asked the council to pass a resolution that would show the Forest Service that the city of Kenai supports the project.

Fifty-six miles southeast of Cordova on Prince William Sound, Stevens told the council that Kenai stands to benefit from the Katalla project because his operations will be based in Kenai.

Stevens, who is the safety and health program coordinator for Inlet Drilling Alaska Inc. in Kenai, said he plans to use Inlet Rig CC1 for exploration drilling that would start with two or three wells and, if they had commercial oil shows, could result in as many as 12 wells for a total investment of approximately $20 million.

Exploratory drilling could result in $2.5 to $3.5 million in wages paid to Kenai residents, Stevens told the council.

Stevens told city officials he began the permitting process 25 months ago.






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