Providence Says Val Verde Seismic Acquisition Nearly Complete

Providence Resources says that Dawson Geophysical has completed over 75% of the 3-D seismic shoot of Providence’s leases within the Ellenberger carbonate, Strawn carbonate, and Pennsylvanian-Wolfcamp sandstone reservoirs in Val Verde County, Texas in an effort to illuminate deep gas targets. Seismic data acquisition in the field is expected to be completed by the end of this month.

The first stage of processing this data set has already begun and will continue until the latter part of February 2008. Providence has engaged Mr. Sam Ting as a consultant to provide additional processing experience to Fairfield Industries Incorporated and TRNCO to ensure high quality results. Mr. Ting is a dedicated geophysicist with over 25 years experience that includes exploration seismic projects in the Delaware, Midland, and Val Verde Basins in Texas. Since early 2005, Mr. Ting has provided geophysical services as a private consultant. Between April 2000 and February 2005, Mr. Ting was the founder and president of Geo-Experts, Inc., a geo-science consulting company of more than 40 consultants that provided expertise associated with exploration and production projects worldwide. Prior to founding Geo-Experts, Mr. Ting was with Mobil Research and Development for 20 years with his last 9 years of service as senior geophysical advisor responsible for providing technical evaluations and assistance for Mobil's worldwide geophysical applications.

Fairfield is well known worldwide for developing and operating sophisticated software and hardware configurations to process data that creates accurate images of the Earth’s subsurface for geologic interpretation. High-performance networking that utilizes workstation cluster technology empowers Fairfield with supercomputing capabilities that generate superior algorithms with the best available noise reduction, multiple removal, pre-stack time, depth imaging, and multi-component seismic processing. Superior hardware and software capabilities, coupled with international experience in marine streamer, shallow water, transition zone, and high land seismic data analysis and processing enable Fairfield to provide geophysical services in a timely and cost-effective manner.

Providence has already provided Fairfield with three full shipments of data. Demux and geometry work is being performed as the data is received. About 2,000 shot records and some of the “offset” shots are waiting for GPS locations before geometry assignment. Meanwhile, Providence’s management and consultants are reviewing general geological and reservoir attributes in order to best optimize seismic processing for mapping fractured reservoirs. The ultimate seismic challenge facing Providence is to map the most productive pays from Ellenberger to Strawn represented by compartmentalized and hydro-thermally fractured dolomitic reservoirs.