Park Place Completes Brighty EM Survey

Park Place Energy says that the EM specialist contractor Offshore Hydrocarbon Mapping (OHM) has now completed the Electromagnetic (EM) Survey on Park Place's Brighty Prospect in the North Sea.

OHM Limited has notified the Corporation with regards to the quality and coverage of the survey as follows, "A complete set of receiver data has been collected from the survey." The data collected by OHM at sea is now being analyzed and will be interpreted over the next several weeks.

OHM Limited (London:OHM) is the worlds leading provider of Controlled Source Electromagnetic Imaging (CSEMI) services, including surveying, data processing, and data interpretation services to the offshore oil industry. CSEMI has been used for over 20 years by researchers to examine hydrothermal and volcanic systems on mid-ocean ridges. OHM and their team of leading scientists have refined and developed the CSEMI technique and transformed it into a potent tool for optimizing hydrocarbon exploration and production. Originally formed in 2002 as a spinout from the UK's prestigious National Oceanography Centre with venture capital funding, the company has completed surveys spanning four continents.

The Brighty Prospect has similar characteristics to the Buzzard field, one of the largest fields to be discovered in the North Sea in the past quarter century, in which Petro-Canada holds a significant position and which should hit peak production of roughly 200,000 BOE per day later this year - with over a billion barrels of oil in place. In addition to Petro-Canada an independent energy corporation Endeavour International Corporation is also very active in the area surrounding Brighty.