Here it is!!!
ASX/MEDIA RELEASE NOVEMBER 17, 2010
WHL ENERGY REPORTS LARGE SEISMIC ACQUISITION PROGRAM IN OFFSHORE SEYCHELLES UNDERWAY
Highlights:
?h 17,000km of 2D seismic survey commences over offshore Seychelles including 7,200km over WHL??s Seychelles blocks
?h Program undertaken by leading international geophysical companies
?h Large, previously identified targets & leads to be covered by survey
?h Potential drilling sites to be identified
The Fugro operated ??Geo Arctic?? has begun a seismic acquisition program off the Seychelles.
ASX-listed WHL Energy Limited (ASX: WHN) (WHL Energy or ??the Company??) is pleased to announce a large 2D seismic acquisition program has commenced on exploration interests it is set to acquire off the southern coast of the Republic of Seychelles.
International seismic specialists Fugro Data Services and Geomahakarsa are together acquiring more than 17,000 km of 2D seismic over targeted areas, including 7,200 km over 35 blocks WHL will acquire subject to shareholder approval, under an agreement announced by the Company in October 2010.
That agreement will see WHL acquire SEYCO Energy Pty Ltd and its rights to acquire up to 100% of 20,700 square kilometres of exploration interests in a prospective shallow water area off the southern Seychelles coast.
The current seismic campaign is part of a 17,000 km, US$20 million multi-client program of 2D seismic, gravity and magnetic data acquisition being undertaken by Fugro and Geomahakarsa within the Seychelles Exclusive Economic Zone (EEZ).
The 2D seismic survey is being acquired by the state-of-the-art Fugro-operated vessel ??Geo Arctic??. The 82 m long, 15 m wide vessel, which has dual source capabilities, will be utilising an eight km long streamer cable to obtain the seismic data, with results expected to become available from mid-2011.
More than $7 million of historic seismic and other exploration work has identified a number of large prospects and leads on the Blocks to be acquired by WHL and the new program will target those leads.
Those previously identified leads in the mapped structures include:
?h Beau Valon ?V A giant drape structure estimated both by the previous operator, Texaco, as well as the current operator to hold as much as 3 billion barrels of oil equivalent;
?h Coetivy Bank ?V A four way dip close structure with repeatable hydrocarbon seeps that has been mapped with 200 m of vertical closure over an area in excess of 100 sq km;
?h Junon Bank ?V A super-giant fault block, mapped by a number of operators to have vertical closure in excess of 450 m, over an area exceeding 650 sq km. The oil upside on this structure is world class; and,
?h Creole ?V A giant stratigraphic pinch-out trap with associated seismic hydrocarbon indicators including gas chimney and a possible flat spot interpretation extending 24 km down dip from the pinch out termination.
WHL Energy CEO, David Rowbottam, said the announcement confirming the Seychelles seismic program was underway was positive news for the Company and its shareholders.
??This state of the art seismic program and processing will provide WHL with important new information about the large structures identified by the historic seismic shot over the blocks and enable us to firm up farm out discussion over 2011,?? Mr Rowbottam said.
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