Vanco Energy Orders 3D Survey Offshore West Africa

Vanco Energy Company of Houston has entered into a contract with Aker Geo, a Norwegian company, to undertake a massive 3D survey covering Vanco's acreage offshore West Africa. Between now and the end of April 2001, the "Aker Amadeus" and the "Aker Symphony" will shoot up to 9,000 square kilometers of 3D seismic on Vanco's licenses, making it West Africa's single most extensive 3D survey to date.

The survey will cover key leads and prospects in all of Vanco's deepwater acreage offshore West Africa, previously covered only by 2D seismic.

"This is the first time we have contracted a 3D survey offshore West Africa, and we're doing it in a big way," says Vanco's President Gene Van Dyke. "We saw an exceptional opportunity to use Aker Geo's new super-class vessels. Rather than spending time and money on more 2D, we thought it best to shoot 3D right now."

The "Aker Symphony" will shoot Vanco's acreage in the northern sector of the continent beginning with Morocco, then Senegal and Cote d'Ivoire. The "Aker Amadeus" has already begun offshore northern Namibia, and will then proceed to Equatorial Guinea and Cote d'Ivoire. Combined, the two vessels will survey approximately 2,000 square kilometers per month between now and next April.

On July 20th, the "Aker Amadeus" launched from Walvis Bay to shoot Vanco's License Area 1711 offshore Namibia in the unexplored Namibe Basin. The survey is now over 80% complete.

Beginning October, the "Aker Symphony" will shoot Vanco's Safi Haute Mer permit and Vanco/Lasmo's Ras Tafelney permit offshore Morocco. The "Symphony" will then shoot Vanco's Dakar Offshore Profond block offshore Senegal. Depending on the timing of each survey, either the "Symphony" or the "Amadeus" will survey Vanco's Block CI-112 offshore Cote d'Ivoire.

Vanco Energy Company is a Houston-based independent oil and gas company specializing in exploring and developing deep water. Vanco is the leading deepwater acreage holder in West Africa with 20 million net acres.