CDS Snaps Up Seismic Data for Boqueron Block in Paraguay

CDS Oil & Gas Group plc announced that the seismic data acquisition program on its 800,000 hectare Boqueron Block in Paraguay has been completed. Harmattan FZE a UAE-based, land seismic operator was contracted to conduct a 3C-2D seismic data acquisition program of 700 kilometers on the Boqueron Block and 281 kilometers on the Gabino Mendoza Block.

The data for the Boqueron Block has now been sent to Houston for processing and interpretation. Harmattan has commenced mobilisation of equipment to the Gabino Mendoza Block 260km to the north of the Boqueron Block. It is anticipated that the resumption of data acquisition will commence on the Gabino Mendoza Block in about ten days.

Patrice Roman, CEO of CDS stated: "We are pleased with the completion of this stage of our seismic work program and look forward to receiving the results of the processing and interpretation of the data. This new data, once interpreted will add significantly to our already substantial database including the recently completed digitisation and re-processing of 2-D seismic data acquired by earlier exploration companies in the 1970s and 1980s. The data will also assist us in selecting drill sites on the prospective Boqueron Block."

CDS is a UK registered company which, through its Paraguayan subsidiary, CDS Energy S.A., has a 98.1% working interest in three large blocks with substantial oil and gas exploration potential. The blocks are located in the prospective eastward extension of the productive Bolivian Chaco Basin in north-west Paraguay.