Gulf United Concludes Seismic Acquisition Offshore Peru

Gulf United announced the successful acquisition of 2,909 kilometers (km) of new high-quality marine 2-D seismic data recorded by CGG Veritas on Block Z-46 offshore Peru.

Block Z-46 is an approximate 2.8 million-acre block in the Trujillo Basin offshore Peru that is operated by SK Energy, Sucursal Peruana. Previously, 5,684 km of reprocessed 2-D seismic data identified a series of submarine fan deposits on the block, and multiple leads have been identified in both the Paleozoic and Tertiary formations. The new data will allow a further evaluation of the leads on Block Z-46 and direct future exploration activities.

John B. Connally III, Gulf United's Chairman and Chief Executive Officer, commented, "We are pleased to achieve this important milestone in the evaluation of Block Z-46. The processing of this new seismic data should be very helpful in developing our understanding of the significant potential hydrocarbon resources that have been identified in this very large offshore block. We believe this new Z-46 data, coupled with our ongoing mapping of recently acquired 3-D seismic data on Block CPO-4, will provide valuable and enhanced definition to numerous exploration leads in both Peru and Colombia."