sc69 seismic survey 210sq km, page-5

From the quarterly

"Service Contract 69 Offshore Visayas, Philippines
• Otto (through its wholly-owned subsidiary NorAsian Energy Phils Inc) 79% Interest and Operator
• Area 5,280 km2
• Work commitment in current sub-phase contains a minimum 3D seismic requirement of 50 km2 or 1
exploration well by August 2012
Following promising interpretation of the 760 km of 2D seismic acquired over this area in 2010, Otto has completed acquisition of over 210 km2 of 3D seismic over the Lampos and Lampos South prospects during June 2011.
Otto has now received the processed 3D seismic data and is undertaking initial interpretation. Successful interpretation will lead Otto to undertake a farm-down campaign for a carry on a well required in subsequent Sub-Phases.
The data acquired from the successful 2D seismic campaign in 2010 confirmed the presence of two sizeable reef structures, Lampos and Lampos South that sit immediately adjacent to the Calangaman Trough which is modelled to generate both oil and gas. Some direct hydrocarbon indicators were evident on the 2D seismic data. Current “success case” estimates of oil initially in place in the combined structures range between 22 Mbbls and 713 Mbbls with a mean unrisked in place volume of 290 Mbbls."