| Offshore | Corentyne Licence | Seismic Program | ||||
|
||||
On October 14, 2008, CGX commenced a 536 sq km 3-D marine-seismic survey which was completed on December 10, 2008. The survey was carried out by Fugro-GeoTeam utilizing a dual-airgun 8 x 6,000 metre sold state streamer spread. The program was designed to cover the four prospects for which Gustavson Associates LLC calculated the total best estimate (P50) prospective resource to be 2.7 billion barrels of oil. The most significant leads are a series of structural traps in the Upper Cretaceous that we've called our Eagle Deep targets within our Corentyne License. Data quality reviewed to date is excellent with minimal noise and early results are giving clear images below 30,000 feet. Processing has been ongoing since November 2008 and PSTM interpretation is expected by the second quarter of 2009. |
||||
|
||||
 |
||||
| ABOVE: Fugro's R/V GeoPacific with streamers deployed. | ||||
| BELOW: Map shown superimposes the seismic grid over CGX's prospects - the smaller area outlines the seismic grid over CGX's Corentyne License and the larger area outlines the seismic grid over CGX's Georgetown License which is being undertaken with YPF Guyana Ltd., a subsidiary of Repsol YPF, the operator of the Georgetown License. | ||||
 |
||||
| In 1999, we completed an 1,800 km seismic survey using Solid-Sentry seismic cable over the Eagle and Wishbone turbidite fan targets and the Horseshoe stratigraphic targets—all which had been identified by analysis of >6,000 km of vintage (1970s-early 1980s) seismic surveys by previous operators. The Solid-Sentry system has two significant advantages: | ||||
| 1. | Reduces noise from ocean waves and boats, making images of target reservoirs much clearer | |||
2. |
Obtains strong signals from longer cables, an important aid to AVO analysis | |||
| Our seismic survey established Eagle and Wishbone as drillable targets. Vintage seismic data indicates a third anomaly on our western concession, the Annex, which will require new seismic and hydrocarbon source and migration analysis to advance to drillable. | ||||
 |
||||
| From its ship Kenda, Western Geophysical used state-of-the-art equipment to carry out our seismic survey in 1999. | ||||
|
|
|
|
|
