Pemberton's geological and geophysical team has had varied results from that interpretation, which are currently under review. In the shallow Cretaceous, Notikewan formation which is producing oil in the adjacent section to the north, up dip structurally, we have a good lead that this pool could extend to the south as long as we haven't moved too far down dip from the structural high. This formation tends to water-out down dip, well off the structure. Pemberton's geological and geophysical team is currently interpreting the Triassic, Montney and Devonian Granite Wash formations which we currently have a lead of a structural high, which could turn out to be a good bump or confirmed anomalies which could lead to a deep 2200m Granite Wash well, with a dual potential for hydro carbons in the Triassic.
From the leads acquired from Pemberton's 2D seismic, Pemberton's geological and geophysical team created a synthetic or model of the Cretaceous requirements based on the existing Notikewan wells to track the seismic character, or amplitude anomalies throughout the area and to prove them successful, being up dip with closure.
Pemberton hopes to create a similar model for the Montney and Granite Wash based on structure and character of these formations from its seismic. To elaborate on the varied results are to reiterate that the sparse 2D seismic is only valid under each linear mile on the surface and could change dramatically with as small as a 50m move off line, which could result in a dry hole. To convert our seismic leads into drillable anomalies we will require a 3D seismic view of the subsurface. This will enable Pemberton to tie in different attributes of sonic and density logs to the surrounding area in a 3 dimensional view, giving confidence in structural traps and anomalies and determine if there is closure. To properly interpret 3D for the multi-horizon plays from 600m to 2220m at basement, we need sufficient offsets on the surface to give us a geophysically correct solution of what is going on at depth.
Pemberton's time section will enable us to interpret and correctly follow formations laterally and vertically in time and to map them in structural isochrone maps and thickness isopach maps to image these potential hydro carbon traps 3 dimensionally, which will put a well on target to the highest up dip position.
Pemberton's geological and geophysical team's 3D proposal is the next stage of exploring and developing of Pemberton's land and neighboring oil companies lands. Seismic options are being discussed with our major oil company neighbors to acquire partnership of their rights to the mineral leases they own. Due that 3D seismic has to be spatially large; we need to encompass neighboring lands to image the geology properly under Pemberton's own land. The proposed 3D seismic will encompass 11.17mi2 with multi-horizon parameters designed to map with good fold for the deep Triassic and Devonian plays, with acquiring sufficient fold up shallower at the Cretaceous levels.
Pemberton has 300 x 200m lines with a 25m bin giving good spatial sampling to depth. Pemberton has 2088 shot points with 3042 channels on the ground. With line density of 150km of receiver line and 103km of source lines on the surface, we will require all land owners permission as most are farmers with expensive crops planted. Our dynamite source of 1 kg at 15m is proven to be the ultimate point source and our 2D seismic has shown us frequencies up to 80 hz to 90 hz of usable signal which gives us the vertical resolution to decipher interbed issues of similar velocity and density characters of the rocks. The 3D seismic with these parameters will give us the most accurate understanding on the geologic formations needed to proceed as a development field.
President Richard Saxon states: Government approvals and surface land permitting are underway which means we could be ready to acquire 3D as early as June. Interpreting this data and cross correlating it with existing well control and 2D seismic findings could lead to a series of well locations as early as end of July. The multi-horizon play of the Peace River Arch is truly a wild cat seismic play that with all the existing attributes available gives Pemberton a very exciting potential for hydro carbons.
Management is excited with this new benchmark for the Company and its shareholders. We are confident in Pemberton's geological and geophysical team and look forward to developing our Peace River Arch Properties.
Pemberton Energy Ltd's principal business is the acquisition, exploration and development of petroleum properties. The company continues to focus on its primary corporate objective: the creation of value for shareholders by identifying oil and gas accumulations with relatively low geological risk but with substantial reserve potential.
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