Imperial Receives 3D Seismic Results from Kiev-Eganskoye Field

Imperial's 3D seismic results on 380 square kms of its Kiev-Eganskoye Field, Block 80, Tomsk, Western Siberia indicates a potentially significant increase in the quantity of recoverable reserves from that field.

The independent seismic company, Bashneftgeophysica, performed the seismic for Imperial. The data obtained allows new improved and detailed interpretations to be made showing significant differences between this new 3D seismic data and the older 2D seismic data acquired prior to Imperial obtaining the licence for Block 80.

The new 3D seismic data shows that the eleven wells drilled during Soviet times, whilst providing helpful data in fact did not even penetrate the main part of the Kiev-Eganskoye structure.

In addition, reinterpretation of the data from those eleven wells, combined with the new 3D seismic results, indicate the presence of three new reservoirs of Jurassic and Cretaceous age not previously identified in Imperial’s reserve estimations.

These seismic results together with the availability and application of new hydrocarbon recovery technologies increase Imperial’s confidence in the Kiev-Eganskoye Field; reinforcing the potential of the field and highlighting the potential for significant increases in the quantity of recoverable reserves.

Imperial will be sharing these Field results with the Ministry of Natural Resources and the new data will be taken into account in Imperial’s updated reserves assessment by DeGolyer and MacNaughton to be published in Spring 2008.

The preparation for work in the Kiev-Eganskoye field continues with both pipeline construction and commencement of drilling of several wells planned to commence on schedule this winter. Completion of the 150 km pipeline is targeted for H1 2008 and 40kms of pipe has already been delivered to site. Welding stations are being set up and the approval process is progressing well with wood cutting tickets already obtained.