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CGG Completes Aerial Survey Covering SPA 17 AO in Western Australia

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Oilex Ltd announced Thursday that CGG Aviation (Australia) Pty Ltd (CGG) has completed data acquisition of the aerial gravity/magnetic survey covering SPA 17 AO (formerly STP-SPA-0055) in Western Australia safely and ahead of schedule. Demobilization of all equipment and personnel is complete. 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 aerial gravity/magnetic survey consists of 13,320-line mile (4060 line–kilometer) of data and was acquired using a tighter grid than existing data, thus enhancing the definition of the area. After acquisition CGG’s internal Quality Control (QC) processes highlighted the need to reacquire some data, which is complete.

CGG has subsequently confirmed that a comprehensive data set of sufficient quality and resolution is now available to determine the validity of Oilex’s structural model of a potential Wallal Graben extension from adjacent Oilex permits into SPA 17 AO. Such an extension would confirm the Graben’s presence in exploration areas encompassing approximately around 4.4 million acres (17,900 square kilometers) and held entirely by Oilex.

The Survey data will now be fully processed and interpreted by CGG prior to delivery of final products to Oilex for its ongoing exploration effort, which CGG anticipates to take approximately eight weeks.

Managing Director of Oilex, Ron Miller, said;

“The safe completion of operations within the planned schedule is a great result for CGG and Oilex. We are encouraged that after the stringent QC processes, this new data will enable us to determine the extent and depth of the Wallal Graben in SPA 17 AO”.

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