Strategic American Oil Corporation has received two additional 3D seismic surveys from Echo Geophysical Corporation. The first of the two surveys covers 25.58 square miles in Refugio County,Texas, and the second survey covers 26.47 square miles also in Bee/Refugio County, Texas.
Consulting geophysicist Bob Bennett will begin evaluation of the two additional surveys shortly. Mr. Bennett has completed his review of the 172 sq. mile South Texas 3D seismic data and identified a anticlinal structure with 4-way closure covering portions of six sections. The Company will endeavor to retain a carried working interest (25%) to casing point in each prospect developed and drilled in addition to recouping the cost of the seismic data. Mr. Bennett has a successful history of finding economic oil reserves through the his 3D seismic work.
Randall Reneau, President and CEO stated, "Access to these 3D seismic databases is continuing to add value to Strategic American Oil. As we found with the first database acquired, the potential to discover overlooked structures likely to contain oil and gas reserves is excellent. These databases allow us to identify targets with great accuracy and develop exploration programs with the goal of increasing the company's oil & gas production and reserves."
3D seismic is a key tool in Strategic American Oil's exploration plans for discovering new oil and gas reserves along the gulf coast. 3D surveys
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