multi billion bbls multi tcf oil gas seeps, page-5

hi sirsenor

i suspect Alex will be able to find a great JVP for SC55.

i think Alex has already indicated major/national oil company.

Oil & gas seeps occur for 1 fundamental reason, there is oil and gas in the sedimentary system, which is always a good start. Seeps are generally spotted using satellite data or sea floor surveys. The satellites spot mini “oil sheens / slicks” that are too consistent to be related to shipping etc. Sea bed surveys look at the topography of the sea floor and then target peaks or troughs to examine for hydrocarbons.

Generally, seeps are a very positive indication.

Oil seeps generally occur as there is still oil & gas generation and migration occurring at the moment. ie the pressure and temperature of buried organic rich rocks expels hydrocarbons which seep up through the rock layers, some get trapped in structures under impermeable layers of rock, some “miss the traps” and reach the sea floor as seeps.

Also, virtually no geological seal is 100% perfect so many fields around the world have seeps above them where tiny amounts (relative to the in place volumes) leak from the field to the surface through micro fractures etc. These give the best / strongest seeps as the field is constantly feeding the seep to make it consistently present.

Regards

Alex Parks

Chief Executive Officer