Eldorado: PIP Technology to Locate Undiscovered Oil, Gas Deposits
Eldorado Exploration reported that it expects its Passive Induced Polarization (PIP) technology to locate hundreds of undiscovered commercial oil and gas deposits. PIP can be used to survey large areas and find large and small targets that traditional 3D Seismic technology used by the major oil and gas companies couldn't find or were judged cost prohibitive. The potential commercial value of these undiscovered oil and gas reserves if successfully located and drilled is in the billions.
Eldorado Exploration, Inc. uses a technological process called PASSIVE INDUCED POLARIZATION (PIP) which greatly enhances the odds of finding commercial quantities of Oil and Gas. The process helps eliminate geological prospects that will be dry holes. Strong signals indicate commercial potential of discovering oil and/or gas. No signal or weak readings indicate low probability for a successful find. The cost of evaluating prospects is a small fraction of 3D Seismic and takes much less time. 'PIP' technology takes days instead of months or years for 3-D Seismic.
David T. (Tom) Laurance, President and CEO of Eldorado Exploration, Inc., stated "'PIP' can be used to survey large areas and find smaller targets that 3D Seismic either couldn't find or is cost prohibitive. The 'PIP' technology can be used and has found some giant targets as well. The potential of these prospects could be in the billions of dollars and the chance at finding and drilling one of these giant fields is one of the main reasons Eldorado Exploration provides an exceptional opportunity for its shareholders."
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