Crown Oil and Gas has completed its 2D seismic exploration program on its Kikinsko-Gusikhinsky licensed area, as stipulated by the license agreement. A total of 779 linear kilometers of high resolution 2D seismic were acquired on Kikinsko-Gusikhinsky, a property encompassing 1100 square kilometers.
Analysis of the data identified seven leads that merit further exploration. Saratovneftegeophyzika, a major regional geophysical geophysical services contractor, recommended drilling on two prospects, Prirazlomny and Chernobulaksky. Additional seismic is planned during 2010 on the five other leads in view of expanding the drill target selection.
Projected drilling depths are up to 2230 meters, with targeted pay zones starting from 700 meters at Upper Cretaceous.
Stan Bogomolov, COO of Crown Oil and Gas Inc., commented, "Relatively little exploration had taken place historically on Kikinsko-Gusikhinsky. The results of our seismic confirm the high expectations initially expressed by our geologists. With this latest seismic analysis, including our Tereshkinsky licensed area, Crown has now identified a total of four drill targets and ten additional leads. The leads will be the focus of seismic upgrading. We also anticipate the seismic analysis of Krasnoarmeisky-2, our southernmost licensed area."
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