Attention Business Editors:

    First Calgary Petroleums commences drilling on Block 405b in Algeria

    TSX:FCP    LSE: FPL

    CALGARY, June 16 /CNW/ - First Calgary Petroleums Ltd. (FCP) today

announced drilling has commenced on the MLE-3 well on the company's Ledjmet

Block 405b in Algeria. Results from this well will further appraise natural

gas and condensate discoveries made by the MLE-1 and MLE-2 wells. The MLE-3

well is located 3.7 kilometres east from the recently drilled MLE-2 well

(production tested 189 million cubic feet of gas per day and 12,874 barrels of

condensate per day) and has a planned depth of 4,450 m.

    The well operations will take approximately 61 days to drill, log, case,

and complete. An extensive production testing program is planned following the

release of the drilling rig. Subsequent to drilling the MLE-3 well, FCP plans

to drill two additional delineation wells on the MLE structure.

    An independent engineering assessment of the reserves recently estimated

gross proven, probable and possible natural gas reserves of more than

5.7 trillion cubic feet equivalent (TCFe), of which 708 billion cubic feet of

natural gas equivalent is proven and 2.39 TCFe is proven plus probable. The

drilling of the three delineation wells will provide further assessment of the

reserves in the above categories.

    First Calgary Petroleums Ltd. is a Canadian oil and gas exploratory

company that is actively engaged in international exploration and development

activities, primarily in North Africa. The company's common shares trade on

the Toronto Stock Exchange in Canada (FCP) and on the Alternative Investment

Market of the London Stock Exchange in the UK (FPL).

    This news release includes statements about expected future events and

financial results that are forward looking in nature and subject to risks and

uncertainties. FCP cautions that actual performance may be affected by a

number of factors, many of which are beyond its control. Future events and

results may vary substantially from what First Calgary Petroleums Ltd.

currently foresees.

    For further information: Richard Anderson, President and CEO, First

Calgary Petroleums Ltd., Tel (403) 264-6697, European contact: Carina Corbett,

Tel +44 (0) 20 7907 4761, Website: www.fcpl.ca

    (FCP.)



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