Onshore-focused junior oil firm Egdon Resources announced Thursday the completion of a 3D seismic survey in Dorset, UK.
Egdon said the survey – conducted over 26 square miles on the PEDL237 and PL090 licenses – was designed to provide detailed structural data over a number of leads and prospects at various reservoir intervals, including the Sherwood Sandstone – the primary reservoir at the nearby Wytch Farm oilfield.
The main focus of the survey was over the area of the Casterbridge and Broadmayne structures where, based on previous 2D seismic data, Egdon evaluated combined gross best estimate prospective resources of around 50 million barrels of oil.
The acquired data will now be processed by a specialist contractor to generate a 3D image of the geological structure of the area to enable the license group to identify locations for possible future exploration drilling.
The 3D seismic survey was carried out by Tesla Exploration International.
Egdon Exploration Director Jerry Field commented in a company statement:
"I would like to thank all the personnel of Tesla Exploration for their professionalism and commitment in undertaking the survey in an efficient, safe and considerate manner.
"We look forward to receipt of the final processed data volume early in 2014 which will enable us to develop our future exploration plans on this highly prospective oil trend to the west of Wytch Farm, Western Europe's largest onshore oilfield.
"After a period of limited activity by Egdon in Dorset, the recently announced commencement of production at Waddock Cross and this seismic survey illustrate our commitment to exploring the Wessex Basin, an area which has the potential to drive near-term shareholder value."
Egdon holds a 38.75-percent interest in PL090 and PEDL237.
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