Earth Search Sciences & Phoenix GeoExploration Ink Exploration Deal
Earth Search Sciences has signed a Letter of Intent with Phoenix GeoExploration Inc. to undertake airborne hyperspectral mapping over their SW Williston Basin Project, an area close to major oil discoveries. The LOI is based on Earth Search receiving a royalty in exchange for providing the hyperspectral survey.
The objectives of the hyperspectral survey are to look for oil seeps or alteration chimneys arising from leakage of hydrocarbons from oilfields associated with dolomitization (and increased porosity) in the Red River "B" and "C" horizons - which have hosted the nearby 200 million barrel Cedar Hills Field, the 40 million barrel Buffalo Field, the Medicine Pole Hills Field, the Horse Creek Field, and the Horse Creek South Field.
Larry Vance, CEO of Earth Search Sciences, stated, "The PROBE-1 hyperspectral instrument has proven its capability in surface exploration for signs of oil. There are a number of things our airborne data collection highlights, including being able to quickly map the geology of outcrop lithology and surface structure along with any seepages to identify good potential hydrocarbon prospects."
President of Phoenix GeoExploration Inc., Dr. Bill Pelton, said,
"The acreage we have rights for, is on trend with the excellent
discoveries in contiguous properties. They share the same Ordovician
carbonates and we believe the hyperspectral imagery may help identify
key exploration targets."