CGG Viking II Mobilizes to VIC/P67 in Otway Basin for Seismic Survey

Australian energy company WHL Energy Limited (WHL Energy or the Company) reported Wednesday that the seismic vessel the CGG Viking II has mobilized to the Otway Basin off Victoria, Australia and is currently deploying its equipment.

The La Bella 3D Marine Seismic Survey (MSS) in offshore Otway Basin permit VIC/P67 is expected to commence around Nov. 15, once the Viking II has completed a smaller survey for Origin Energy. The La Bella survey will cover a total of 334 square miles (867 square kilometers) and is expected to take 34 days to complete. WHL Energy is Operator of the seismic survey.

CGG’s state-of-the-art broadband seismic surveying technology (BroadseisTM) technology will be employed in order to provide a high resolution image of the subsurface geology of La Bella gas field and surrounding exploration prospects. The survey is also being undertaken in an area of high environmental and community sensitivity and as such WHL Energy has undertaken stringent measures to meet the regulatory obligations and respect the community expectations to protect the environmental and community interests in the area.

Processing of the data recorded by survey is scheduled to be undertaken during January through to April 2014. An initial data volume is expected mid-February, with interpretation anticipated to commence immediately thereafter. The final processed data is targeted to be received in mid-May and a final interpretation will follow.

The acquisition of the La Bella 3D Marine Seismic Survey is an important step in advancing the development of the La Bella gas/condensate field, and importantly, also maturing the exploration prospects in VIC/P67 for drilling. The technical objectives of the survey are to provide an accurate image of the subsurface structure and the reservoir properties and also to quantify the distribution of gas in the La Bella field and nearby prospects. This will provide a basis for field development planning for La Bella that targets production in 2017. A drilling program is being planned by for 1Q 2015.

Concept Evaluation Studies

WHL Energy and its Joint Venture partner, AWE, are also in the process of commissioning detailed development concept evaluation studies with an external engineering contractor. These studies, along with the La Bella 3D seismic survey data, will evaluate in detail, the engineering and costs associated with the potential development of the La Bella gas resource through each of the offset facilities, being the Casino, Minerva and Geographe/Thylacine projects.


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