Quadra Plans New Seismic Survey on its Nuqra Concession

Quadra Resources reports that the operator, Trans Globe Energy Egypt Inc., has now obtained hard copies of approximately 2,800 kilometers of mid 1990's 2D seismic data on the Nuqra concession in southeast Egypt. The bid tender for reprocessing 1,500 kilometers to 2,000 kilometers was issued in late November 2004. New seismic shooting is currently planned for the third or fourth quarter of this year.

The lands in the Nuqra Concession are located in southeastern Egypt near the city of Luxor on the east bank of the Nile River and are situated in the heart of the Komombo Basin. The Komombo Basin is a rift basin analogous to the Gulf of Suez Basin in Egypt and the Muglad Basin in Sudan, both of which have major proven oil reserves. The Nuqra Concession encompasses 7,500,000 acres (approximately 30,000 square kms) of contiguous land. QEL has identified 13 seismically defined exploratory leads from existing technical data. Well data from the Nuqra Concession confirms the existence of Cretaceous and Jurassic sandstone formations which may hold the potential for discovery of significant accumulations of oil reserves.