Melrose to Shoot Seismic Survey in Bulgaria

- Melrose to Shoot Seismic Survey in Bulgaria

Friday, August 12, 2011
Melrose Resources plc

Melrose provided an update on its exploration activities in Bulgaria.

Drilling operations have been completed on the Kaliakra East-1 exploration well on the Galata block in the western Black Sea. The Palaeocene reservoir interval was found to be eroded at the drilled location and the well will be plugged and abandoned.

The Company is now moving ahead with its plans to shoot 500 square kilometers of 3D seismic over the central area of the Galata Block to the north of the Galata to Kaliakra field trend. Three further explorations leads have been identified in this area on regional 2D seismic data and these have combined prospective resources of 130 Bcf and an average chance of success 23 percent. A contractor has been selected to conduct the seismic survey which is scheduled to commence in September.

Commenting on Friday's announcement, David Thomas, Chief Executive, said, "Notwithstanding the Kaliakra East-1well results, the Galata Block remains relatively under-explored and we are looking forward to receiving the results of the 3D seismic survey over the central area of the concession. The combination of low development costs, strong regional gas prices and competitive terms make this one of the very attractive exploration environments for the Company."

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Vanoil Picks BGP for Kenya Seismic Shoot

- Vanoil Picks BGP for Kenya Seismic Shoot

Monday, July 11, 2011
BGP Inc.

Vanoil has executed an agreement with the Chinese seismic firm Bureau of Geophysical Prospecting (BGP) for a survey over acreage in Kenya. BGP will commence the 2011 seismic data acquisition programs on Vanoil's 100% owned Block 3B in Kenya.

Under the terms of the contract BGP will acquire around 373 line-km, 320-fold seismic data. Completion of the data acquisition phase is expected by the end of September.

This is the second seismic program Vanoil has contracted BGP for. From further evaluation and understanding of the 2010 seismic program, Vanoil has decided to move forward with a second survey. Vanoil said that the data acquired in 2010 is currently being evaluated by Sproule Internationa and results are expected within the next few weeks.

Dal S. Brynelsen, president and CEO of Vanoil, commented, "We are very pleased to have executed a second agreement with BGP and look forward to engaging such a high quality organization to implement our seismic plans for Block 3B."

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