Saratoga Resources, Inc. announced that the Company has entered into a 20 year seismic licensing agreement with Seismic Exchange, Inc. (“SEI”) for 42.88 blocks of three-dimensional (“3-D”) seismic data, comprising approximately 400 square miles, located in the state waters of Louisiana. Licensing of this data now gives Saratoga close to 500 square miles of contiguous and continuous 3-D seismic data covering its assets in South-East Louisiana.
Saratoga’s President, Andy C. Clifford, said “We are extremely pleased to enter into this data licensing agreement with SEI that now gives us high-quality 3-D seismic coverage over all of our producing properties. This data will allow us to better develop our existing Main Pass and Breton Sound assets, where we have recently completed field studies, as well as to explore for shallow Pliocene gas and deep shelf and ultra-deep gas objectives, similar to McMoRan’s Davy Jones and Blackbeard discoveries, close to the Company’s existing “hub-and-spoke” infrastructure.”
About Saratoga Resources
Saratoga is an independent exploration and production company with offices in Houston, Texas, and Covington, Louisiana with 30 full-time employees, supplemented by field-based contract operations personnel. Principal holdings cover 33,625 gross (32,527 net) acres, mostly held-by-production, located in the state waters offshore Louisiana. Saratoga’s stock currently trades on the OTC Bulletin Board under the symbol “SROE”.
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Source: Saratogaresources, May 24, 2010;