NXT is conducting the SFD evaluation surveys in Syria in cooperation with the Ministry of Oil and Mineral Resources of Syria and the S.P.C. with the following objectives; (1) to gain approval of the SFD technology as a viable exploration tool for locating hydrocarbon bearing structures and (2) wherever possible jointly explore and develop the countries' oil and gas resources.
"We will fly about 5,000 km of planned flight lines and expect to submit a report of interpreted data to the Ministry and S.P.C. during the first week of April." stated Mr. Liszicasz, President and CEO. "A successful completion of our survey in Syria will prove that the SFD technology can operate in other geological settings outside North America. We also believe that this will demonstrate our ability to identify seismically defined geological structures and provide an alternative low cost, time effective exploration technology with the capability of operating in an Offshore-Onshore environment and possessing a significant competitive edge in comparison to the expensive and time consuming conventional seismic method."
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