Cambrian Completes Tash Kumyr Seismic Interpretation
Cambrian Oil and Gas Plc reported the following progress from its Tash Kumyr exploration project in the Kyrgyz Republic.
--Processing and interpretation of new Tash Kumyr seismic data has been completed --The results increase confidence that the permit area contains a number of prospective targets --Revised maps of potential structures align with surface geochemical results from the Company's 2005 Gore SurveyTM --The attached map shows the improved structural definition and the alignment of seismic and geochemical survey results --COIL has successfully applied to expand its license area to cover possible extensions of prospects into adjoining areas --COIL has started its 2006 summer exploration program. This program includes: (a) further seismic and geochemical surveys at Tash Kumyr, Pishkaran and a new Kyzyl Djar license area (b) a geochemical survey over the Toktogul structure on the Company's exploration permit NP-142.
Tash Kumyr Exploration Program
New and old seismic data has been interpreted to yield a new map, which has increased COIL's confidence in possible drilling targets in the permit area; the map of the target Palaeogene horizon is attached to this announcement.
The new interpretation shows improved definition of two potential anticlinal structures and a number of other leads. The identified prospects and leads align well with previously mapped geochemical anomalies that indicate potential hydrocarbon entrapment in one or more of those prospects and leads.
The southern structure is on trend with the Mailisai producing field just to the southwest and shows good correlation with a geochemical anomaly detected by our 2005 Gore Survey over this same area. This interpretation broadly aligns with our previous interpretation in this area.
The northern structure has the potential to be larger than originally mapped and it now appears to extend north of the survey area. A geochemical hydrocarbon type anomaly wraps around the edges of what appears to be the crest on this mapped structure.
While the previous interpretation postulated a central anticlinal structure between the northern and southern anticlinal structures, the new interpretation materially redefines this structure as a ridge joining the southern and northern structures. However, this newly interpreted ridge aligns strongly with a similarly shaped geochemical anomaly that runs between the remapped northern and southern structures.
A separate fault block feature to the southeast remains as previously mapped and ties with geochemical responses in this area.
Expanded license area
COIL has successfully applied to extend the northern boundary of the Tash Kumyr area of License NG-72-00. This will allow further seismic and other mapping to define the northern limit of the northern prospect.
A new license has been granted to cover an area to the west and southwest of the Tash Kumyr survey area. This will cover possible extensions of the southern prospect in these directions.
2006 Seismic program
COIL has commenced its 2006 summer exploration and appraisal program. This program includes:
- further seismic (40 km) and geochemical surveys within the Tash Kumyr and Kyzyl Djar areas
- a geochemical surface survey to screen for the possible subsurface presence of hydrocarbons at the Toktogul structure within the Company's Toktogul Exploration Permit NP-142 located some 80km north west of the Tash Kymyr region.
Given the improved definition of the main prospects within the Tash Kumyr license area, COIL may seek a farm-inee to take up some of its participation interest in this exploration license.
Toktogul Exploration Program
The geochemical Gore Survey in this area will screen for the possible subsurface presence of hydrocarbons in the large Toktogul structure on the Company's exploration permit NP-142.
. Neale Taylor, Chief Executive Officer of Cambrian Oil and Gas Plc, said:
"The new seismic interpretation at our Tash Kumyr exploration license builds confidence in several of our South Karagundai prospects. We now need to define the best way forward via more seismic or other surface work and we expect to soon start planning the drilling our first exploration well."
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