Crown Identifies Drill Targets

Crown Oil and Gas Inc. on Friday announced the completion of its 2D seismic exploration program on its Tereshkinsky licensed area, as stipulated by the license agreement. The program involved the acquisition of 502 linear kilometers of 2D CDP seismic profiles.

Analysis of the seismic data resulted in the identification of seven leads that merit further exploration. Of the seven leads, the Tereshkinsky and Elkhovsky prospects were confirmed and drill targets selected. Projected drilling depths are 1300-1400 meters, with targeted pay zones starting from 500-600 meters at Upper Carboniferous.

Additional seismic work will be conducted on the remaining five leads to further define their nature and extent prior to drill target selection.

SaratovNefteGeoPhizika, a major regional geophysical services corporation, conducted the seismic using Sercel (France) and Progress (Russia) seismic stations. Data processing was carried out using ION Geophysical (USA) and CGGVeritas (France) software and data interpretation using Landmark/Halliburton (USA) software.

Stan Bogomolov, COO of Crown Oil and Gas Inc., commented, "We are very excited about the prospects for our Tereshkinsky property. We have covered a significant area with new seismic surveys that have successfully confirmed targets for drilling as well as identified new areas worthy of more exploration. We intend to expand our seismic program in order to clarify additional drill targets."

Tereshkinsky Prospect Characteristics

Target horizons:

 

  • Devonian (at -1290 meters) - prospect area 9.0 sq km
  • Lower Carbon/Aleksinsky (at -870 meters) - prospect area 5.1 sq km
  • Mid Carbon/Melekesskian (at -590 meters) - prospect area 6.5 sq km
  • Mid Carbon/Kashir (at -500 meters) - prospect area 6.0 sq km

Target Oil & Gas pay zones:

 

  • Givetian-Lower Frasnian (terrigenous)
  • Mid-Frasnian-Lower Tournaisian (carbonate)
  • Upper Tournaisian-Upper Visean (carbonate-terrigenous)
  • Serpuhkhov-Lower Bashkir (carbonate, US equivalent Morrow-Chester)
  • Vereiskian-Melekesskian (terrigenous, US equivalent Atok-Morrow)

Recommended depth for drilling is approximately 1,400 meters. Drilling is planned for 2010.

Elkhovsky Prospect Characteristics

Target horizons:

 

  • Devonian (at -1300 meters) - prospect area 4.0 sq km
  • Lower Carbon/Aleksinsky (at -880 meters) - prospect area 5.2 sq km
  • Mid Carbon/Melekesskian (at -660 meters) - prospect area 8.0 sq km

Target Oil & Gas pay zones:

 

  • Givetian-Lower Frasnian (terrigenous)
  • Mid-Frasnian-Lower Tournaisian (carbonate)
  • Upper Tournaisian-Upper Visean (carbonate-terrigenous)
  • Serpuhkhov-Lower Bashkir (carbonate, US equivalent Morrow-Chester)
  • Vereiskian-Melekesskian (terrigenous, US equivalent Atok-Morrow)

Recommended depth for drilling is approximately 1,350 meters. Drilling is planned for 2010.

Crown Oil and Gas Inc. is an independent oil and gas company focused on enhancing shareholder value by acquiring and developing oil and gas assets in Russia. Crown holds, through its subsidiaries, exploration and development licenses located in the Saratov region of Russia, one of the major oil and gas regions in the country with advanced infrastructure and more than 60 years history of oil and gas production. Saratov lies in the European part of Russia on the border with Kazakhstan, the largest oil producing country in Central Asia.

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