Tuscan Energy Selects GXT for Seismic Work at Ardmore Field

GX Technology has been awarded a major seismic imaging contract from Tuscan Energy for the Ardmore field in the North Sea, known as Argyll until March 2002. New techniques, including GX Technology's proven seismic imaging capability and expertise, will enable Tuscan Energy, along with its partner Acorn Oil North Sea, to find and produce hydrocarbons from Britain's oldest North Sea oil field which is estimated to contain more than 40 million barrels of hidden reserves.

GXT will reprocess existing 3D seismic surveys to provide the partners with new Image-Driven(TM) seismic volumes both in time and depth. GXT's proprietary software -- PrimeTime(TM) and Primus(TM) -- will be utilized by technical specialists in Aberdeen and London, accessing one of the world's largest seismic data processing computing facilities. Tuscan Energy will use these detailed and extremely accurate subsurface images to facilitate the placement of high angle wells into known reservoirs and to aid in the discovery of additional hydrocarbons in the reservoir.

"We see GX Technology as an extension of our technical team," said Paul Schofield, technical director, Tuscan Energy, "and we have been impressed by their innovative approach to solving the technical and commercial challenges that we face in the redevelopment program for the Ardmore Field."

Tuscan Energy anticipates that oil will flow again from this field during 2003 as the challenges of the UKCS (United Kingdom Continental Shelf) are swept away by the latest developments in technology -- extending the life of oil fields and introducing opportunities for other, inspired new oil companies.

"We are excited to have been selected by Tuscan to provide a seismic solution on this high-profile project in the UKCS and have assembled a dedicated team of geoscientists to ensure that we provide the high level of interaction which will be key to success on the project," said Mark Walker, managing director, GX Technology, EAME Limited.