Attention Business Editors:

First Calgary Petroleums commences drilling of fifth well on Block 405b
in Algeria

TSX: FCP LSE: FPL

CALGARY, Dec. 15 /CNW/ - First Calgary Petroleums Ltd. (FCP) today
announced that drilling operations have commenced on the MLE-5 appraisal well
on the company's Ledjmet Block 405b in Algeria.

The MLE-5 well, a 4550 metre test, is the fifth well located on the
Menzel Ledjmet East (MLE) gas and condensate field. The well is located 1.3 km
east of the MLE-3 gas well which tested 24,743 barrels oil equivalent per day.

The MLE-5 well is particularly significant in that it will test a separate
structural block which extends across the eastern side of the field. A
successful well in this location has the potential to add significant reserves
to the MLE field.

FCP also advised it will commence a 40 day production test on the
recently completed MLE-4 well in early January, 2004. The MLE-4 well, located
4.9 km south of the MLE-3 gas well, was a successful appraisal of the
southerly extent of the MLE Field and encountered at least five hydrocarbon-
bearing zones with cumulative net pay over 56 meters. A further 33 meters of
potential pay was encountered in a deeper horizon. This horizon has not been
tested so far in the MLE Field but will be included in the upcoming testing
programme.

FCP further advised that following the company's recent acquisition of
600 sq. km of 3D seismic data to the immediate west of the MLE Field, the
company is contracting a second drilling rig for early January 2004. The first
location to be drilled with this rig will be the LEC-1 well which will be
followed by at least seven additional exploration and appraisal locations.

FCP is an oil and gas exploration 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 AIM 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 FCP currently foresees.

-0- 12/15/2003

/For further information: Richard G. Anderson, President and CEO, First
Calgary Petroleums Ltd., Tel: (403) 264-6697, Website: www.fcpl.ca; European
contact: James Henderson, College Hill, Tel: +44 (0) 207 457 2020; Carina
Corbett, 4C Communications Ltd., Tel: +44 (0) 207 907 4761/


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