Searcher Updates Duvalia Seismic Survey

Searcher Seismic Pty Ltd announced the Duvalia 2D Seismic Survey. The survey will comprise approximately 2,299 miles (3,700 kilometers) long offset 2D non-exclusive seismic data over Proposed Areas 5 & 6 slated for inclusion in the May, 2012 Federal Acreage Release.

The presence of a working petroleum system in the area is demonstrated by several recent discoveries in adjacent permits, including Alaric-1 (2010), Cadwallon-1 and Vos-1 (Chevron, 2011). All of these wells encountered in the Triassic Mungaroo Formation and the available data indicates the presence of similar rotated fault blocks within the proposed gazettal areas. The existing data coverage over Proposed Area 5 is particularly sparse, with only a handful of vintage data currently available in the public domain.

Water depths in the area range from 6,562 feet (2000 meters) to over 13,123 feet (4000 meters). The Duvalia Survey has been planned in water depths less than 3000 meters, and provides a grid of approximately 3 by 6 miles (5 by 10 kilometers) over the more prospective portion of the release area. Existing coverage of over Proposed Area 6 is more extensive, but sparse in portions of the area. Water depths range from 1500 to 2300 meters. Additional data from the Duvalia Survey will in-fill existing coverage so that a grid of no more than 3 by 6 miles (5 by 10 kilometers) is available over the entire area.