Arctic Oil & Gas Corp., a petroleum exploration company, expects its success in locating hydrocarbons to focus on Marine Magneto-Tellurics (MMT), a form of electromagnetic (EM) data acquisition technology, which should fit the criteria of the "Arctic Commons." The MMT data will be combined with seismic data to produce a hydrocarbon map or model of the targeted region.
Initially, Arctic, in coordination with its geo-scientific experts, will target a section of the "Arctic Commons," since the region consists of over 80 million acres, which would create extraordinary first tier costs. Arctic expects to determine its targeted section, based on the advice of its experts during the next 60-90 days, preparing it for the best data acquisition season for the region.
Peter Sterling, Arctic CEO, stated, "We are in the midst of extraordinary advances in geoscience data acquisition. We believe that our timing in the course of scientific history will allow us to discover resources and their location formerly only obtainable by luck and educated guesses. We are most fortunate."
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