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CGG Commences Aerial Gravity Survey Acquisition at SPA 17 AO in WA

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Oilex Ltd revealed Monday that CGG Aviation (Australia) Pty Ltd (CGG) has commenced data acquisition for the aerial gravity/magnetic survey (Survey) covering SPA 17 AO (formerly STP SPA 0055) in Western Australia. SPA 17 AO is the formal title that has been recently granted by the Western Australia Department of Mines and Petroleum and covers approximately around 2.8 million acres (11,400 square kilometers).

The Survey consists of approximately 13,320 line-miles (4,060 line-kilometers) of data. Acquisition is now estimated by CGG to take less than the originally anticipated 10 days to complete based upon progress over the past two days. However the schedule remains subject to weather and flying conditions.

The primary Survey objective is to determine the extent to which the Wallal Graben as identified in adjacent acreage (100 percent held by Oilex) is also present in SPA 17 AO. Subsequent to acquisition the survey data will be analyzed and interpreted by CGG.

Managing Director of Oilex, Ron Miller, said;

“We are pleased to report that the commencement of operations within the planned schedule and we are excited about moving towards a better understanding of the exploration potential of this area. Subsequent to achieving the primary objective of the Survey, Oilex has exclusive rights to negotiate a formal exploration permit with the Government of Western Australia.’’

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