Seychelles 3D Seismic Survey Contract Awarded
Perth, June 25, 2014 AEST (ABN Newswire) - Australian energy company WHL Energy Limited (
ASX:WHN) (WHLRF:OTCMKTS) ("WHL Energy" or "the Company") is pleased to announce that Ophir Energy plc (LON:OPHR) (OPGYF:OTCMKTS) ("Ophir Energy"), operator of the jointly held Seychelles exploration blocks, has contracted Dolphin Geophysical to undertake the 1500 km2 Junon 3D seismic survey over the Junon trend. Ophir Energy, as operator holds 75% equity in the Seychelles blocks and WHL Energy the remaining 25%.
The survey will be undertaken by the M/V Polar Duchess and is targeted to commence on 28 June. The survey will take 30 - 40 days to complete. An initial fast track processed data set is expected to be delivered in September and a PreSTM processed volume in December.
The Junon 3D seismic survey is designed to mature a number of prospects for drilling on the Junon trend in the east of the Ophir Energy/ WHL Energy Seychelles acreage (Junon South, Junon East and Junon Central), an area high graded by WHL Energy's geological studies.
Mr David Rowbottam, WHL Energy's Managing Director, commented: "It is very pleasing to see the Seychelles project reach an important milestone with the acquisition of the first 3D dataset in the acreage. Because of the geological nature of the Seychelles region, it is believed that 3D seismic data will provide a significant upgrade to the understanding of our large exploration area. The Junon 3D dataset for example is expected to provide a high definition image of the Junon structures and provide a number of prospects for targeted drill site selection."
"The Junon 3D seismic survey fulfils the 3D seismic obligation under Ophir's farm-in agreement with WHL Energy and the company looks forward to the results of the survey. The company anticipates that an exciting exploration drilling opportunity will mature from this data."
During April 2014 the Republic of the Seychelles signed formal documentation approving Ophir Energy's farm-in for a 75% interest in WHL Energy's offshore Seychelles petroleum exploration project area.
As part of the farm-in agreement Ophir Energy will fully fund the initial 1,500 km2 3D seismic acquisition programme up to a total amount of US$17 million.
Dolphin Geophysical AS is a global full-range, asset light supplier of marine geophysical services. It operates a fleet of new generation, high capacity seismic vessels and offers contract seismic surveys, Multi-Client projects and processing services on a worldwide basis.
The M/V Polar Duchess is a modern, state-of-the-art 3D seismic acquisition vessel designed for high capacity (12 streamers) marine seismic operations with a strong focus on safety and environmental performance, optimised towing and a high transit speed of 18 knots.
To view all figures and the release, please visit:
http://media.abnnewswire.net/media/en/docs/77460-ASX-WHN-681744.pdf
About WHL Energy Limited
ASX-listed WHL Energy Ltd (ASX:WHN) (OTCMKTS:WHLRF) is an emerging oil and gas company with high value assets in Australia and the East African region. The company's "flagship" assets are its "ready-to-develop" La Bella gas and condensate field off the south coast of the Australia within the VIC/P67 acreage and a large petroleum exploration acreage position, held at 25% equity, off the southern coast of the Republic of the Seychelles.
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