Terra Nova 3D Seismic Survey on PEL 444 Successfully Identifies Anomalies
2014年1月16日 - 11:12PM
Access Wire
Terra Nova Energy
Ltd. is pleased to report that it has
received the initial geophysical evaluation ("the Evaluation") for
the PEL 444 Wingman 3D Seismic Survey,
completed in December 2013 by Tanglin Exploration Pty Ltd. of
Sydney, Australia. The Evaluation has
confirmed that the Survey effectively images the Lower Birkhead
Formation which is the principle reservoir in the Snatcher / Charo
and Growler Oil Fields, located on trend with PEL 444. Various
anomalies have been identified from the seismic interpretation that
may support hydrocarbon trapping, effectively encouraging further
analysis.
The results
of this study will be integrated with 2D seismic
data shot in 2005, to evaluate the prospectivity of the
southeastern portion of the exploration license.
The use of regional 3D seismic surveys as an
exploration tool has greatly improved the wildcat success rate in
the West Eromanga Basin, South Australia.
The Wingman 3D
seismic survey ("the Survey") covers
approximately 80 square kilometres and was acquired in the
southeastern part of PEL 444. Surveying, line clearing and
recording operations were undertaken by Terrex Pty Ltd of Perth,
Australia. The data was processed by Dolphin Geophysical Pte Ltd in
Singapore.
Management is
currently assessing next steps to advance its
exploration program.
About PEL
444
PEL 444 is located in
the prospective "Western Oil Fairway" of the Eromanga Basin in
South Australia, where 22 oil fields have
been discovered in the last eight years; current production exceeds
15,000 barrels of oil per day. Oil has been encountered in the
Namur Sandstone and in channel sandstones of the Birkhead Formation
within both structural and stratigraphic trapping configurations.
The application of 3D geophysical data in prospecting for
hydrocarbon has been instrumental to exploration success given the
low structural relief and/or stratigraphic nature of hydrocarbon
accumulation in this part of the basin.
About Terra Nova Energy Ltd.
Terra
Nova Energy Ltd. is an oil and gas company with a right to acquire
up to a 55% working interest in two onshore petroleum exploration
licenses ("PELs"), being PEL 112 and PEL 444, located on the
western flank of the Cooper Eromanga Basin in the State of South
Australia, Australia. Its common shares trade
on the TSX Venture Exchange under the symbol "TGC" and its ordinary
shares trade in the U.S. on the OTCQX marketplace under the symbol
"TNVMF."
For more information
please contact:
Terra Nova Energy Ltd.
Nico
Civelli
VP Finance
+41 44 217 4804
invest@niconsult.ch
Forward looking information
This news
release contains forward-looking information relating to Terra
Nova's intentions to conduct the seismic program and subsequent
drilling programs and other statements that are not historical
facts. Such forward-looking information is subject to important
risks and uncertainties that could cause actual results to differ
materially from what is currently expected, for example: risks
related to oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets,
volatility of commodity prices, currency fluctuations, competition
from other producers, inability to retain drilling rigs and other
services, reliance on key personnel, and insurance risks. In making
such forward-looking statements, Terra Nova has relied upon certain
assumptions relating to geological settings, commodity prices, the
stability of markets and currencies, the availability of capital,
and Terra Nova's ability to implement a proposed exploration
program on its property. You should not place undue importance on
forward-looking information and should not rely upon this
information as of any other date. While Terra Nova may elect to,
Terra Nova is under no obligation and does not undertake to update
this information at any particular time, except as required by
applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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