2011 SEISMIC SURVEY SERVICE CONTRACT 44, ONSHORE CEBU, PHILIPPINES
The 2011 seismic survey has commenced. A total of approximately 40 kilometres new data is planned for acquisition over the next 4 weeks.
The aim of the 2011 seismic survey is to acquire sufficient data over at least three existing leads (including the newly identified limestone reefs) and converting them into drilling prospects. Drilling is planned for the first half of 2012.
A 115 kilometre seismic acquisition program was completed in 2010. Seismic data acquired in 2010 is of excellent quality, where it has been acquired over ground not affected by outcropping limestone. The interpretation of the data has also been completed providing good geologic insight over selected areas of Service Contract 44. The 2010 seismic data interpretation has clearly identified, for the first time, the Cebu Limestone carbonate reef play and the younger turbidite sandstone traps, both structural and structural/stratigraphic. The newly acquired seismic data is generally of high frequency enhancing the ability to identify and map reservoir targets.
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