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Terra Nova Completes 3D Seismic Data Exchange with Senex & Bridgeport

Source: www.gulfoilandgas.com 5/31/2016, Location: Not categorized

Terra Nova Energy Ltd has completed a 3D seismic data exchange with Senex Energy Limited and Bridgeport Energy Australia.

Henry Aldorf, Chairman and CEO, stated, 'This data exchange is part of our ongoing technical evaluation and commitment to the PEL 444 concession. We will be using this information to further refine and bolster our understanding of this acreage.'

The data exchange with Senex resulted in the Company securing a copy of the 26 square kilometer 3D seismic data volume from the Senex Jasmine survey, which runs adjacent to Terra Nova's Wingman 3D seismic acquisition on PEL 444. As part of the transaction, Terra Nova also received well data from the first Senex well drilled using the Jasmine 3D seismic survey in exchange for well data from the recent Terra Nova drilled Baikal-1 well.

The data exchange with Bridgeport resulted in the Company securing a copy of the 80 square kilometer 3D seismic survey from the Bridgeport Playford acquisition. Terra Nova will also be entitled to receive well data from the first well drilled by Bridgeport where the location of which was selected using interpretation from the survey. In return for this valuable seismic information the Company provided Bridgeport with a copy of the Wingman 3D seismic survey and Baikal-1 well data.

Mr. Aldorf continued, 'Our technical team is also reviewing asset acquisition opportunities that have the potential to generate near-term cash flow for the Company.'

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Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


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