Australian energy company WHL Energy Limited (ASX:WHN) (“WHL Energy” or “the Company”) is pleased to report that the seismic vessel the CGG Viking II is now on contract to the Company and commenced acquisition of the La Bella 3D Marine Seismic Survey in VIC/P67 on 16 November 2013. The La Bella survey will cover a total of 867 km2 and is expected to take 34 days to complete. WHL Energy is Operator of the seismic survey.
CGG’s state-of-the-art broadband seismic surveying (BroadseisTM) technology will be employed in order to provide a high resolution image of the subsurface geology of the La Bella gas field and surrounding exploration prospects. The acquisition of the La Bella 3D Marine Seismic Survey (MSS) will provide a high resolution image of the La Bella field, allowing a more precise definition of the Contingent Resources and aid development planning.
This data will also provide an accurate definition of the nearby exploration prospects, which could have a very attractive low risk profile if direct hydrocarbon indicators (DHIs) are visible on the 3D seismic. The already identified prospects contain total best estimate Prospective Resources of 577 bcf gas and 8 MMstb of condensate and add significant value to the La Bella resource.
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