Seven Seas Commences Second Development Well; Initial Gas Injection Operations Commence

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Seven Seas Commences Second Development Well; Initial Gas Injection Operations Commence

    HOUSTON, May 30 /PRNewswire-FirstCall/ -- Seven Seas Petroleum Inc.
(Amex: SEV) announced today that it has commenced drilling the El Segundo 5-N
well, the seventh development well of the Guaduas Oil Field.  This well is
being drilled from the El Segundo 5 location, from which the first three of
the planned nine development wells were drilled.
    As previously reported, production from some of the Guaduas Oil Field
wells has been curtailed as a result of high gas-oil ratios.  The Company
announced today that initial gas injection operations designed to help reduce
the curtailment have commenced.  Seven Seas is also in the process of
reconfiguring some of the electric submersible pumps in an attempt optimize
oil production.  The impact of gas injection and pump reconfiguration on oil
production may not be known for several months.
    Seven Seas Petroleum Inc. is an independent oil and gas exploration and
production company operating in Colombia, South America.  The Company's
primary emphasis is on the development and production of the Guaduas Oil Field
and exploration of the Subthrust Dindal Prospect, both of which are located in
Colombia's prolific Magdalena Oil and Gas Basin.

    Statements regarding anticipated oil and gas production and other oil and
gas operating activities, including the costs and timing of those activities,
are "forward looking statements" within the meaning of the Securities
Litigation Reform Act.  The statements involve risks that could significantly
impact Seven Seas Petroleum Inc.  These risks include, but are not limited to,
adverse general economic conditions, operating hazards, drilling risks,
inherent uncertainties in interpreting engineering and geologic data,
competition, reduced availability of drilling and other well services,
fluctuations in oil and gas prices and prices for drilling and other well
services and government regulation and foreign political risks, as well as
other risks discussed in detail in the Seven Seas Petroleum Inc.'s filings
with the U.S. Securities and Exchange Commission.

SOURCE Seven Seas Petroleum Inc.

http://www.sevenseaspetro.com
Company News On-Call:

http://www.prnewswire.com/comp/123145.html
CONTACT:
Bryan Sanchez, Investor Relations of Seven
Seas Petroleum Inc., +1-713-622-8218