Vanoil Wraps Up Seismic Program in Kenya Block

- Vanoil Wraps Up Seismic Program in Kenya Block

Tuesday, September 13, 2011
Vanoil Energy Ltd.

Vanoil has completed its 2011 2D seismic program on Block 3B in Kenya. Vanoil's 100% owned Blocks 3A and 3B in Kenya cover approximately 24,000 square kilometers and are part of the vastly under-explored prolific Cretaceous Central African Rift Basin System in Kenya.

Vanoil's 2011 seismic program in Block 3B covered approximately 398 line-km and was completed on budget and schedule. The program was designed to cover several leads previously identified on the re-processed 1975 Chevron and the 2010 Vanoil seismic data in Block 3B. The 2011 seismic data is high quality with location, time and amplitude content having been jointly assessed and controlled by the contractors; Bureau Geophysical Prospecting (BGP) and RPS. This premium data has been gathered to further image some specific structural leads and as a reconnaissance program to identify more new leads in Block 3B. In addition, the 2011 seismic program was also designed to enable Vanoil to improve on the geologic model in the Lamu Basin, one of the three basins identified on the Vanoil Blocks.

The 2011 2D seismic program in Block 3B consisted of 398 kilometers of additional seismic bringing the cumulative total to 845 kilometers of 2D seismic coverage completed by Vanoil to date on Blocks 3A and 3B in 2010/2011.

The 2011 Vanoil 2D seismic program data will now be sent to Statcom in Calgary Alberta for processing, following which, the data will be interpreted and integrated with the reprocessed and interpreted 1975 Chevron and 2010 Vanoil data. With the newly acquired data, the Company expects to add significantly to the resource assessment incorporated in the previously announced Sproule 51 101 report.

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TGS Scores Seismic Survey in Utica Shale

- TGS Scores Seismic Survey in Utica Shale

Thursday, September 01, 2011
TGS-NOPEC Geophysical Co. ASA

TGS has awarded the acquisition of a 307 mi2 (795 km2) multi-client 3D project located onshore United States. The new seismic program, Firestone 3D, is designed to illuminate the Utica Shale play in Northeast Ohio and aid in the development of this unconventional play. Tidelands Geophysical Services is expected to begin acquisition on the project in 1Q 2012. Data acquisition is anticipated to take seven months.

The Utica Shale is a geologic formation located a few thousand feet below the Marcellus Shale that is characterized by a western oil phase, a central wet gas and an eastern dry gas phase. The new seismic survey is located over the wet gas/liquids rich portion of the Utica Shale. Many see the Utica Shale play as analogous to the prolific Eagle Ford Shale in Texas. The Utica Shale is thicker and more geographically extensive than the Marcellus Shale Trend and has already proven its ability to support commercial production.

"The use of 3D multi-client seismic by oil and gas companies in the development of the unconventional plays in the onshore United States has grown substantially in recent years. We have carefully watched the development of this market and are excited to expand our existing onshore library to include this 3D seismic data," said Robert Hobbs, CEO of TGS. "TGS continues to be successful in diversifying its multi-client library both by product as well as geography," continued Hobbs.

This multi-client program is supported by industry pre-funding.

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SeaBird Catches Seismic Gig for ONGC Field

- SeaBird Catches Seismic Gig for ONGC Field

Tuesday, August 23, 2011
SeaBird Exploration plc

SeaBird announced through its wholly owned subsidiary SeaBird Exploration FZ LLC the receipt of a Notification of Award (NOA) from Oil and Natural Gas Corporation Ltd of India (ONGC) for a 4C-3D Seismic API Pilot Project in Mumbai High Field. This is an official notification that SBX has been awarded Tender No Y16KC10017 and consequently the Hugin Explorer and Munin Explorer will mobilize from the Norwegian North Sea immediately following the conclusion of the current ExxonMobil contract expected to be around 10th September 2011.

This is a most prestigious contract award for SBX - as well as being the eighth contract award since operations started - and a highly important survey for ONGC as the data to be acquired is necessary for the planned optimal placement of two development wells from the upcoming platforms within the survey area by June 2012. ONGC has requested start up as soon as possible and SBX estimation for commencement on survey site is around mid October 2011.

The total number of node stations deployed will be in excess of 2,300 at 200 meter spacing, and data acquisition will be carried out in two swaths by rolling phases of approximately 760 nodes each. The technical expertise and track record of SBX in previous surveys has been an important element of the choice of contractor by ONGC, and furthermore this contract is another important step forward in the developing OBN market sector as it covers processing and interpretation for both pressure and converted (shear) wave data.

Value of the contract is USD 40 million and duration is estimated to be about 110 days including mobilization from North Sea.

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Nido to Acquire Additional 2D Seismic at SC 54B

- Nido to Acquire Additional 2D Seismic at SC 54B

Friday, August 19, 2011
Kariki Energy

The recent discovery of a 187 meter hydrocarbon column in the Gindara-1 well in SC 54B, although not commercial, has highlighted the exploration prospectivity of the block when considered in combination with the potentially encouraging results from the reprocessing of seismic over the central and southern parts of the SC 54B permit. The Pawikan lead in the southern part of the block has been identified on existing regional seismic data and is estimated by the Operator to have the potential to contain 700+ MMbbls oil (in-place, unrisked).

The Operator, Nido Petroleum, has advised Kairiki that it is currently reviewing the opportunity to acquire further 2D seismic in the next few months over the Pawikan lead utilizing a seismic vessel that may be in the area at that time. This additional seismic, which would be cost effective, is intended to mature the Pawikan lead for possible drilling in the future. Any proposed seismic program will be subject to Joint Venture approval.
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This seismic acquisition in SC 54B coupled with the ongoing farmout of our interests in SC 54A, which involves the funding of a drilling program by the farminee, would significantly progress Kairiki's exploration and evaluation efforts over the next 12 to 18 months.

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Wireless Seismic Strengthens Seismic Team

- Wireless Seismic Strengthens Seismic Team

Thursday, August 18, 2011
Wireless Seismic

Wireless Seismic announced the hiring of Travis Bird and Scott Williams to the newly-created positions of Chief Financial Officer and Sales Director/Americas respectively and the relocation of its corporate headquarters to Sugar Land, Texas, located just outside of Houston - the Energy Capital of the World. Wireless Seismic is the developer of an innovative wireless seismic data acquisition system with real-time data return.

"We are delighted to add Travis and Scott to our team," said Roy Kligfield, Wireless Seismic's President and Chief Executive Officer. "They bring the perfect combination of financial acumen, business strategy and industry knowledge that will be an invaluable addition to our company as we ramp-up the commercial launch of RT 1000 - our revolutionary seismic data acquisition system."

Prior to joining Wireless Seismic, Travis Bird served as Director, Corporate Development, at Novatek, Inc., a company that develops technologies for the oil and gas, construction and mining industries. In this role, Bird drove business strategy through the successful realization of multiple mergers and acquisition transactions. Bird has held executive financial roles with several emerging growth organizations. Before Novatek, he served as CFO of NovaDrill, Inc., a technology company that develops drilling tools for the oil and gas exploration and procurement industry. Bird drove financial strategies for NovaDrill through to its successful acquisition. He also worked at the global business services firm Ernst & Young, LLC in Los Angeles where he led engagement teams in providing corporate audit services to public and private businesses across multiple industries. Bird is a licensed CPA.

Scott Williams served as Vice President Sales for Guralp, a United Kingdom-based equipment manufacturer, prior to joining Wireless Seismic. Williams previously held positions as Regional Manager, United States and Latin America Sales, for INOVA Geophysical as well as Global Business Development Manager and Technical Sales Manager, Land Imaging Division, for ION Geophysical. Williams began his career as a surveyor and seismic observer before working his way up through the ranks to a regional field service manager. Scott also gained experience in managing electronic manufacturing operations.

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WesternGeco Kicks Off 3D Seismic Survey in Barents Sea

- WesternGeco Kicks Off 3D Seismic Survey in Barents Sea

Thursday, August 18, 2011
Schlumberger Ltd.

WesternGeco has begun acquisition of the Bjørnøya Phase I "Ice Bear" 3D multiclient survey in the highly prospective West Loppa area of the Barents Sea.

Following previous surveys in the area, the Ice Bear survey will extend the existing WesternGeco West Loppa datasets to the North and West.

"The study area is located on the rim of the Bjørnøya Basin, on the west flank of the Loppa High and includes a large downthrown terrace in the North together with other Jurassic faulted structures, all of which have potential," said Phil Davey, WesternGeco Europe & Africa GeoSolutions manager, "Other, separate, but still promising features are seen in the southwestern part of the survey area."

Building on previous 2D datasets, the Ice Bear survey will consist of approximately 2500 sq km of 3D seismic data, acquired using 10 X 7 km streamers. Advanced acquisition techniques coupled with demultiple processing using the WesternGeco 3D GSMP General Surface Multiple Prediction technology will provide high-quality 3D data.

Acquisition commenced on July 10, 2011, and the fast-track data will be available in November 2011 in time for nominations for the 22nd Norwegian Licensing Round. The final processed data will be available for licensing in March 2012 in advance of the applications for the 22nd Norwegian Offshore Licensing Round. Companies are invited to contact WesternGeco to discuss their interest in this program.

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Polarcus Snags Seismic Projects in Austral-Asia

- Polarcus Snags Seismic Projects in Austral-Asia

Polarcus has received a contract award and a separate Letter of Intent from two undisclosed clients for 3D seismic acquisition projects in Austral-Asia. The projects, to be acquired back-to-back by POLARCUS ALIMA, will commence in 4Q 2011 and are expected to run from 5 to 7 months in total.

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Shell NZ to Join Great South Basin JV, Seismic Program to Begin in 4Q11

- Shell NZ to Join Great South Basin JV, Seismic Program to Begin in 4Q11

Tuesday, August 16, 2011
OMV

OMV New Zealand and Shell New Zealand announced major milestones for the Great South Basin joint venture, with the addition of Shell into the venture and confirmation that a comprehensive 3D seismic program will begin later this year on Permits 50119 and 50120. Permit 50121 will be returned to the Crown.

Subject to ministerial approval, under the new joint venture agreement Shell, a world leader in deep water exploration and production with a 100 year history in New Zealand, will take a 50% share while the existing joint venture partners OMV and PTTEP retain 18% each and Mitsui Australia retains 14%.

OMV New Zealand will remain operator of the Great South Basin permits until the end of the seismic acquisition program which is expected to be completed in early 2012. The 3D program itself will be undertaken by the state of-the-art vessel Polarcus Alima and is expected to cover about 3,000 km2.

Shell will become the joint venture's operator once the seismic acquisition program is completed.

"We are very pleased to announce these developments which we believe clearly demonstrate the joint venture's commitment to the Great South Basin. It is important to be geared up for the next steps in the exploration of a frontier basin," said OMV New Zealand Managing Director Peter Zeilinger.

"We have allocated significant manpower to studying the Great South Basin over the past four years and invested over NZ$50 million to date. The joint venture is now committing to an additional significant investment for the next phase of the project," he said.

In late 2010 OMV and its joint venture partners began an in-depth review of their planning for the Great South Basin. As part of that assessment, the joint venture identified the need for an additional partner with considerable deep water experience and best practice exploration and operating processes.

OMV New Zealand

"We undertook a detailed evaluation of several companies who could meet these tests. Shell's proven track record as an internationally experienced deep water operator with high safety and environmental standards made them the logical partner of choice," Mr. Zeilinger said.

Shell brings valuable technical expertise to the joint venture from safely delivering more than 20 groundbreaking deepwater projects around the globe. Shell's membership in the Great South Basin joint venture builds on its continuing investment in Taranaki, where it is a joint venture partner in the Maui, Kapuni and Pohokura fields.

Chairman Shell Companies in New Zealand Rob Jager said the new Great South Basin venture reflected Shell's continuing commitment to exploration and production in New Zealand.

"Shell has been investing in New Zealand for more than 100 years and safely operating offshore for more than 30 years in the challenging conditions off the coast of Taranaki. We have been impressed by the work of the joint venture to date, and see this as an exciting opportunity to bring our local and global experience to another promising region," he said.

Exploring a new frontier area is very much a long term process, Mr. Zeilinger explained.

"There are no guarantees that drilling will take place, but we are hopeful that the seismic survey will yield positive results. Our focus right now is on carrying out a robust survey," he said.

Mr. Jager said that as the new joint venture partner and future operator Shell is looking forward to working with OMV on the next stage of the project.

"Safety comes first for Shell. We have a Goal Zero operating philosophy which demands no harm to people and protect the environment. Another top priority is to get to know the local stakeholders better so that we have a strong understanding of their views and a positive foundation for continuing engagement over the coming years," he said.

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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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Logan Competes Sale of Front-End Seismic Services Division

- Logan Competes Sale of Front-End Seismic Services Division

Tuesday, August 02, 2011
Logan International Inc.

Logan announced that it closed the sale of substantially all of the assets and operations of its front-end seismic services division, Destiny Resources Services ("Destiny"), to certain subsidiaries of Clean Harbors, Inc.

Mr. David Barr, Logan's Chief Executive Officer, stated, "The completion of this transaction enables us to commit all of our management and financial resources to the growth and profitability of our downhole tool segment. The sales proceeds strengthen our balance sheet and increase our liquidity and, as a result, better positions us to pursue acquisition opportunities as well as grow our existing operations. The opportunity to realize Destiny's full value and to invest the proceeds in our core business was a key factor in selling this division."

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San Leon Subsidiary Concludes Seismic Acquisition in Poland

- San Leon Subsidiary Concludes Seismic Acquisition in Poland

Tuesday, August 02, 2011
San Leon Energy plc

San Leon Energy's Polish subsidiary Liesa has completed its 168 sq. km 3D seismic acquisition program over the Nowa Sol license in the Southern Permian Basin of Poland. The survey was acquired by Acoustic Geophysical Services ("Acoustic") from Hungary. Permitting and land access agreements were managed by TDE Service Polska ("TDE"). Completion of the survey marks the first time that foreign contractors have carried out a seismic acquisition program in Poland.

The survey was designed to image the conventional oil and gas potential of the proven Permian sediments in the Nowa Sol area as well as to look at the deeper potential of the Carboniferous source rocks.

The survey will be processed by two independent processing companies, one in the US and one in Poland. Final processed results are expected in September followed by detailed interpretation by the Company, with plans to commence a two to three well drilling campaign by the end of 2011.

Oisin Fanning Chairman of San Leon Energy commented, "The completion of the Nowa Sol 3D is another step forward in our drilling plans for Poland. The lower risk oil potential of the area is an important part of our short term strategy to organically grow San Leon in the short term while we continue to explore for the significant longer term gas resources in our portfolio. The safe and successful completion of the Nowa Sol 3D is further evidence of San Leon's operational capabilities.

We believe that the Carboniferous section below the proven Permian sediments, an approximate 880,000-acre license position, also offers the potential to be a large unconventional gas play in Europe and we look forward to drilling this later in the year."

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TGS Kicks Off Seismic Survey in Faroe-Shetland Basin

- TGS Kicks Off Seismic Survey in Faroe-Shetland Basin

Tuesday, August 02, 2011
TGS-NOPEC Geophysical Co. ASA

TGS has commenced a new multi-client 3D survey in the Faroe-Shetland Basin. The survey covers 2,500 km(2) west of the British Isles over quads 6004, 204 and 205 and is acquired in partnership with PGS.

The new seismic data is being acquired by the PGS Ramform Viking towing 12 X 6,000 m with 75 m separation and utilizes PGS' GeoStreamer Technology. Data acquisition will continue through Q3 2011 and the vessel will return in 2012 to complete the survey. Data processing will be performed by both TGS and PGS. "This is TGS' first investment in a 3D multi-client seismic program west of the British Isles, located in an area with a number of discoveries and further undiscovered hydrocarbon potential," stated Kjell Trommestad, SVP Europe & Russia for TGS.

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BGP Wraps Up Seismic Acquisition for Saudi Aramco

- BGP Wraps Up Seismic Acquisition for Saudi Aramco

Friday, July 29, 2011
BGP Inc.

BGP Crew 8652 announced the successful completion of the S53 3D TZ seismic survey for Saudi Aramco with a total workload of 1876 km2 3D, as well as a remarkable achievement of 3.5 million man-hour without LTI.

The project area, located on the east coast of Saudi Arabia, comprises terrains of desert, Gobi, seasonal lakes, and shallow water, along with infrastructures of industrial facilities, airport, oilfields, wharfs, offshore exploration platforms, plus convoluted subsea pipelines throughout the entire area. The complex surface conditions, coupled with a large number of workers and equipments had presented unparalleled challenge to engender a safe operation while meeting the client expectations.

The S53 project team integrated three different types of energy sources being vibroseis, explosives and air guns, to best accommodate different working terrains, and yet it is able to complete the project in 18 months almost five months ahead of schedule.

Without saying, this extraordinary accomplishment is the synergetic effort from all members of Crew 8652, supported by the unwavering commitment from BGP headquarters.

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Providence Concludes Seismic Acquisition Offshore Ireland

- Providence Concludes Seismic Acquisition Offshore Ireland

Thursday, July 28, 2011
Providence Resources plc

Providence has, on behalf of itself and its partners, successfully completed the 3D seismic acquisition project in Frontier Exploration License (FEL) 4/08 in the Porcupine Basin, off the west coast of Ireland. This survey was carried out in an area adjacent to the Spanish Point and Burren discoveries. Providence operates FEL 4/08 (32%) on behalf of its partners, Chrysaor E&P Ireland Limited (60%) and Sosina Exploration Limited (8%).

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TGS Extends Seismic Acquisition in Barents Sea

- TGS Extends Seismic Acquisition in Barents Sea

Tuesday, July 26, 2011
TGS-NOPEC Geophysical Co. ASA

TGS has commenced the acquisition of an extension of its multi-client 3D seismic data in the Hoop Fault Complex area of the Barents Sea. This extension is to the west of the previously announced industry funded Hoop Fault Complex survey and will add 3,391 km2 to the existing data in the area. Upon completion of the expanded project, TGS will have over 7,300 km2 of contiguous multi-client 3D data over the Hoop Fault Complex. In conjunction with this multi-client survey, TGS will also acquire approximately 1,100 km2 of seismic data on a proprietary basis for a TGS customer.

Acquisition of the data will be performed by the M/V Polar Duke towing 10 x 6,000 m streamers with 75 m cable separation and acquisition is scheduled to complete during early 4Q 2011. Data processing will be performed by TGS and will be available to clients from 2Q 2012.

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TGS to Launch Seismic Acquisition Offshore Sierra Leone

- TGS to Launch Seismic Acquisition Offshore Sierra Leone

Wednesday, July 20, 2011
TGS-NOPEC Geophysical Co. ASA

TGS will commence acquisition of multi-client 3D seismic data in offshore Sierra Leone later this month. This survey marks over ten years of investment for TGS in the West African region and will add 2,535 km(2) to the existing TGS data library. The new 3D seismic will provide important data for continued exploration on the Sierra Leone segment of the West Africa Transform Margin, where recent discoveries have established that a working hydrocarbon system exists.

The M/V GeoCarribean will acquire the 2011 survey. Data processing will be performed by TGS and available to clients in Q1 2012.

The survey is supported by industry funding.

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Providence Starts 3D Seismic Acquisition Offshore Ireland

- Providence Starts 3D Seismic Acquisition Offshore Ireland

Wednesday, July 20, 2011
Providence Resources plc

Providence has, on behalf of itself and its partners, commenced operations for its 3D seismic acquisition project in Frontier Exploration License (FEL) 4/08 in the Porcupine Basin, off the west coast of Ireland. Using a vessel supplied by Polarcus Limited, the c. 200 km2 3D survey is expected to run for approximately 15 days. Providence operates FEL 4/08 (32%) on behalf of its partners, Chrysaor E&P Ireland Limited (60%) and Sosina Exploration Limited (8%).

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ION Expands AfricaSPAN Seismic Program

- ION Expands AfricaSPAN Seismic Program

Monday, July 18, 2011
ION Geophysical Corporation

ION Geophysical Corporation has successfully acquired 8,700 km of regional seismic data offshore Tanzania, Mozambique, and Comoros, adding to the 14,000 km of data the company previously acquired in the region in the first two phases of its East AfricaSPAN program.

Several recent large discoveries offshore Mozambique and southern Tanzania have created tremendous interest in the East Africa margin for oil exploration. This third phase of ION's East AfricaSPAN program provides the basis for an improved understanding of the hydrocarbon potential in this highly prospective region.

Ken Williamson, Senior Vice President of ION's Integrated Seismic Solutions group, commented, "Recent development activities in East Africa, particularly in Kenya and Tanzania, were initiated as a result of geologic insights provided by the first two phases of our East AfricaSPAN program. This additional dataset will provide important ties to the Southern petroleum provinces of East Africa in Mozambique and southern Tanzania, and help shape ideas for exploration in the rest of the margin."

East AfricaSPAN III was acquired using long offsets and a specially designed source optimized for deep penetration and imaging. The data will be processed using ION's GX Technology group's latest proprietary processing and imaging technologies. Pre-stack time migration (PSTM) results will be available in November 2011, with pre-stack depth migration (PSDM) results available December 2011.

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Manas Begins Second Seismic Survey at Mongolian Blocks

- Manas Begins Second Seismic Survey at Mongolian Blocks

Thursday, July 14, 2011
Manas Petroleum Corp.

Manas announced the commencement of the second seismic survey on the two Mongolian blocks - Zuunbayan-XIV Block and Tsagaan Els-XIII Block - owned by Gobi Energy Partners GmbH.

This year's seismic survey includes up to 1,700 km of 2D seismic. It covers 10 prospective areas over both blocks, which were identified by our integrated interpretation. The program is laid out in 8 phases without any interruption between the phases; however, some phases show interdependencies. Preparation and mobilization has commenced and the acquisition is expected to begin in mid-August. The seismic work will be conducted with vibrators.

Through its wholly-owned subsidiary, DWM Petroleum AG, Manas owns record title to 100% of the issued and outstanding shares of GEP GmbH, though 26% is held in trust for others. GEP GmbH owns 100% of Gobi Energy Partners LLC ("Gobi"), the Mongolian operator of the oil and gas projects on the two blocks. Gobi signed the agreement for Seismic Services with Sinopec Mongolia, a wholly-owned subsidiary of China Petrochemical Corporation (Sinopec Group), on July 12, 2011. Sinopec has extensive seismic experience in this area. Sinopec offers all services from seismic to drilling and drilling related services. Sinopec will use Sercel equipment for the survey. The total cost of the program, including mobilization and demobilization, is projected to be US $4.2 million. Nine companies participated in the tender.

This seismic survey is being carried out in an effort to improve the quality of existing data and increase the chances of success of exploratory wells the company intends to drill upon completion and interpretation of the new data. The first well is anticipated to be spudded in the second quarter of 2012.

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Second Seismic Survey Commenced at Manas' Tajikistan Licenses

- Second Seismic Survey Commenced at Manas' Tajikistan Licenses

Tuesday, July 12, 2011
Manas Petroleum Corp.

Manas announced the commencement of the second seismic survey on CJSC Somon Oil Company's WEST and NORTH WEST licenses in the Republic of Tajikistan. This program includes up to 774 km of 2D seismic survey, which up to 115 km will be acquired over the WEST license and up to 659 km will be acquired over the NORTH WEST license. An additional 24 km will extend across the Kyrgyz-Tajik border into Manas' Tuzluk license in the Kyrgyz Republic.

Somon Oil, a 90% owned subsidiary of DWM Petroleum AG, signed the agreement for Seismic Services with the Tajikistan branch of the Kazakh company, DANK Scientific Industrial Firm ("DANK"), on June 29, 2011. DANK has extensive experience in the hydrocarbon exploration industry performing seismic work in the larger Caspian region. DANK also performed Somon's seismic survey in 2010. The seismic work will be conducted with vibrators, airguns (a significant volume of the data is to be acquired across the Karakum Reservoir, for the first time), with the remainder utilizing dynamite as a source.

This seismic survey is being carried out to improve the quality of the existing prospect data, and hence increase the chances of success of the exploratory wells to be drilled upon completion and interpretation of the new seismic data. The first well is anticipated to be spudded at the end of the first quarter of 2012.

Santos International Ventures Pty Ltd ("Santos International")., a wholly owned subsidiary of Santos Ltd., has an option to farm-in to Somon Oil pursuant to an option agreement signed between DWM Petroleum AG, Santos International (and others) on December 10, 2007. The Production Sharing Agreement has yet to be ratified and remains one of the hurdles for Santos exercising the option. Prior to exercise of that option, Santos International has agreed to provide preliminary discretionary funding towards the costs of the abovementioned seismic, although binding fully funded commitments are not intended to arise until exercise of the option. Once exercised, it is intended that (subject to further agreement on terms), Santos International will fully fund the seismic survey and that these costs will be credited to the total funding commitments to be agreed.

Somon has also commenced the process of obtaining all required permits to commence drilling operations in the Chkalovsk area (WEST license) as well as in the West Supetau area (NORTH WEST license).

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