Kulczyk: Seismic Survey Started in Brunei Block

Kulczyk announced that field operations have commenced for a 136 square kilometer 3D seismic survey in the northern part of Brunei Block M. Data acquisition is expected to be complete in approximately 5 months.

The interpretation of existing 2D seismic acquired in the 2009 has indicated a number of interesting leads. The new 3D information will allow KOV and its joint venture partners to define these leads prior to any future drilling decision.

The new seismic covers the northern extension of the prospective Belait structural trend. Data is being acquired in the north-central part of Block M (in an area between the 118 square kilometer Belait 3D survey acquired in 2009 and the southern boundary of the 350 square kilometer Tutong 3D survey recorded in 2009 in the southern part of Block L).

Statement of Kulczyk Oil Ventures Executive Vice President, "The new 3D survey will provide additional information on a number of exploration leads indicated in the evaluation of older 2D seismic information and will help us define the most promising exploration areas to focus on," said Kulczyk Oil Ventures Executive Vice President Jock Graham.

The partners in Brunei Block M and in the 3D seismic survey are KOV Borneo Limited (36%), Tap Energy (Borneo) Pty Ltd (39%), China Sino Oil Co. Ltd. (21%) and Jana Corporation Sdn Bhd (4%). KOV Borneo Limited is an indirect wholly-owned subsidiary of Kulczyk Oil.