Shenzhen-Hong Kong Energy Purchases Stake in 4D Seismic, Inc.
4D Seismic, Inc. confirmed that Shenzhen-Hong Kong Energy, Inc., a privately owned corporation, has purchased four and one-half percent (4.5%) of the outstanding shares of 4D Seismic, Inc. for cash. The shares of 4D Seismic were procured by investment banker McKorkle, Lippodt & Evans.
4D seismic technology adds a 4th dimension to the graphing of seismic surveys to allow precision pinpointing of petroleum reservoirs and simulation of their size and depth. The 4D method improves petroleum exploration and production.
The preceding generation of technology improved oil field
yields from 2D 25-30% to 3D's 40-50% recovery. BP/Shell's Foenhaven Field
reported an expected increase from use of 4D technologies to 65-75%
recovery efficiency as cited in "Petroleum Engineer International."