VGS Starts $10 Million Seismic Project in Northeast British Columbia

VGS Seismic Canada Inc. plans to create a new seismic survey in Northeast British Columbia that spans more than 190 square kilometers in an area known for its multi-zone natural gas potential. The survey will require an initial shared investment of approximately $10 million.

The recording parameters selected for this survey typify the high quality, state-of-the-art, 3-D seismic surveys VGS pursues in multi-zone areas where there is industry competition. The topographically rigorous character of this Northeast B.C. area, coupled with the high fidelity field parameters, are aligned with VGS' focus on seismic data that is likely to have a long shelf life.

"This new survey to be created in Northeast B.C. is a significant investment in the strategic growth of VGS' data library," said President and CEO Steven Vasey. "It is expected to have a long-term impact in terms of license sales in the future, while our short-term growth is driven by the sales of licenses to our existing seismic data."

Based in Calgary, Alberta, VGS Seismic Canada Inc. identifies, creates and markets digital seismic data for licensing to oil and natural gas exploration companies. To date, the Corporation's growing data library is concentrated in British Columbia, Southern Alberta and Eastern Saskatchewan.