Baraka Petroleum Says Taoudeni Basin Airborne Survey Has Commenced
Baraka Petroleum Limited, through its wholly owned subsidiary Baraka Mauritanian Ventures Limited, confirms that the airborne magnetics and gravity surveys for the onshore Taoudeni Basin Blocks Ta11 and Ta12 commenced on July 9, 2007.
The airborne magnetics and gravity survey consists of 37,000 line km and is expected to conclude in November 2007.
The 2007 exploration activities budget for these leases is forecast to be approximately US$4.9 million. Baraka will be 100% free carried through this work program.
Woodside Mauritania Pty Ltd, as operator of the Blocks has engaged Fugro Airborne Surveys, to carry out the data acquisition.
BMV and Woodside Mauritania Pty Ltd, a wholly owned subsidiary of Woodside Petroleum Limited (Woodside), entered into a Production Sharing Contract for the Taoudeni Basin Blocks Ta11 and Ta12 in 2004. Woodside has a 75% interest and Operatorship with BMV maintaining 25% interest. The blocks cover approximately 69,000 sq km and adjoin the Mali/ Mauritanian border.
Baraka's CEO Dr. Mark Fenton said: "This airborne survey is a crucial step in
exploring such a large region as Baraka's Ta11/12 PSC's. It will provide important
information on the depth to basement and hence the shape of the basin and
structural configuration. This information can then be used to efficiently locate
structural features for the forthcoming seismic survey that will get underway in
2008. The survey area is adjacent to Baraka's five Blocks in Mali where we will
shortly conclude the acquisition of another large airborne magnetics and gravity
survey. With the completion of the Ta11/12 survey, Baraka will have the most
complete airborne data coverage of any company exploring the highly prospective
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