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CGG Viking II Commences La Bella Seismic Survey in Permit VIC/P67

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Australian energy company WHL Energy Limited (WHL Energy or the Company) reported Monday that the seismic vessel the CGG Viking II is now on contract to the Company and commenced acquisition of the La Bella 3D Marine Seismic Survey in VIC/P67 in the Otway Basin off Victoria, Australia Nov. 16.

The La Bella survey will cover a total of 334 square miles (867 square kilometers) and is expected to take 34 days to complete. WHL Energy is Operator of the seismic survey.

CGG’s state-of-the-art broadband seismic surveying (BroadseisTM) technology will be employed in order to provide a high resolution image of the subsurface geology of the La Bella gas field and surrounding exploration prospects. The acquisition of the La Bella 3D Marine Seismic Survey (MSS) will provide a high resolution image of the La Bella field, allowing a more precise definition of the Contingent Resources and aid development planning.

This data will also provide an accurate definition of the nearby exploration prospects, which could have a very attractive low risk profile if direct hydrocarbon indicators (DHIs) are visible on the 3D seismic. The already identified prospects contain total best estimate Prospective Resources of 577 billion cubic feet (Bcf) gas and 8 million stock tank barrels (MMstb) of condensate and add significant value to the La Bella resource.

WHL Energy Managing Director, David Rowbottam, commented: “This is another significant milestone for the Company, its shareholders and our JV partners in the development of the high value La Bella asset.”

“We look forward to successfully and safely completing this survey and then to receiving the initial results in mid-February 2014 and the final processed data in mid-May 2014.”

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