Spectrum Kicks Off Foz do Amazonas Survey

Spectrum commenced the next phase of their Brazilian Equatorial Margins program this week taking the first shot on the 9,321 miles (15,000 kilometer) Foz do Amazonas survey. After completion of this survey in the third quarter 2012, Spectrum will have collected over 16,777 miles (27,000 kilometers) of new long offset data over this highly prospective region.

The program is designed such that it covers sector blocks expected to be announced in the 11th license round in 2012 and the program is supported by industry funding.

"Spectrum is excited to commence our third new survey in Brazil, adding needed data to an area that essentially has very little or no legacy data coverage at all. The excitement of the Zaudyus discovery in French Guiana has spurred excitement on the Brazil side of the Foz do Amazonas basin. This is Spectrum's second of six planned phases along the Equatorial Margin of Brazil and it is part of our strategic plan to grow our library in Brazil and Latin America," commented Spectrum's Richie Miller, EVP North & South America.

The seismic data will be acquired by the vessel Hawk Explorer with completion estimated during September 2012. The data will be processed at Spectrum's processing center in Houston, with the final products scheduled for delivery during 4Q 2012.