Australian energy company WHL Energy Limited has signed a new agreement with Fugro Data Services AG (“Fugro”) and Geomahakarsa Ltd for the acquisition of additional seismic over its highly prospective offshore Seychelles exploration interests.
WHL Energy has elected to commission a further 887km of 2D seismic acquisition over the Creole lead in Area 3 of its large Seychelles holdings (see map on following page), based on the positive results following the initial seismic data review and an Independent Expert Report from Isis Petroleum Consultants Pty Ltd (“Isis”). The data shoot will commence immediately.
Isis’ studies have confirmed the potential of 12 leads across 4 different plays in WHL Energy’s Seychelles exploration holdings and estimated that these leads have the potential to contain unrisked mean oil in place of between 166 million barrels and 5.44 billion barrels per lead.
WHL Energy Ltd Chief Executive Officer, Mr David Rowbottam, commented: “The acquisition of infill seismic data will remove remaining uncertainties related to the leads that have been identified to date and further assist us in identifying suitable drilling targets.”
“By taking advantage of the seismic vessel in the area, WHL’s Seychelles exploration program is accelerated and the necessary infill seismic data is acquired cost effectively.”
“This is another important step in our plans to farm-down interests in our Seychelles project and will remove the requirement for additional seismic acquisition prior to farm-down of the acreage.”
ASX-listed WHL Energy Ltd (ASX: WHN) is a diversified energy company with interests in a large petroleum exploration asset off the coast of the Republic of the Seychelles, a suite of Renewable Energy Projects and Prospects in Europe and onshore oil and gas producing and exploration holdings in the United States of America.
About WHL Energy Limited
The Company’s “flagship” project is its very large offshore Seychelles oil and gas interests. This 20,700km2 exploration holding is considered highly prospective for potentially very large hydrocarbon targets, and WHL Energy is currently undertaking further work to gain a higher understanding of that potential as it progresses the Seychelles oil and gas assets towards farm-out and drilling.
Independent studies have confirmed the potential of 12 leads across 4 different plays in WHL Energy’s Seychelles exploration holdings and estimated that these leads have the potential to contain unrisked mean oil in place of between 166 million barrels and 5.44 billion barrels per lead.
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Source:whl, April 18, 2011