CDS Survey of Paraguay Positive

CDS Oil & Gas Group plc has received positive results from its aeromagnetic and aerogravity survey program on its oil and gas exploration project in Paraguay, with additional target areas being defined for follow up. Drilling is expected to commence later this year, subject to rig availability.

During the period from October 15, 2007 to December 5, 2007 Carson Aerogravity, a division of Carson Helicopters Inc., flew a 9,423km line airborne gravity and a 12,100km airborne magnetic survey simultaneously over the Gabino Mendoza, PG & E and Boqueron Blocks in Northwestern Paraguay for CDS Energy S.A. Data was collected at a survey speed of 100 knots using a De Havilland DHC-6 Twin Otter aircraft. Newly flown data was encrypted and downloaded daily to Carson's processing center in Perkasie, Pennsylvania, to provide constant monitoring of data quality and field system performance. The gravity and magnetic data was processed, analyzed and interpreted by Carson's staff using proprietary software.

The study successfully combined gravity, magnetic, seismic, well and geological data to map major structural highs, lows, trends, faults, and other structural elements within the three blocks.

This gravity and magnetic interpretation defined several structural highs that need to be highlighted by additional exploration tools (for example seismic and geochemical surveys). The thickness of the sedimentary Quaternary-Carboniferous sequences appears to decrease towards the eastern part of the surveyed area where Devonian and older rocks outcrop. Gravity-magnetic modelling along the selected profiles in the surveyed area demonstrates the possibility of structural highs within the sedimentary sequences present in this portion of the sub-Andean foreland basin in Paraguay. The tectonic style is predominately extensional with clearly interpreted high angle normal faults. The main northwest-southeast striking normal faults have been intersected by younger northeast-southwest trending faults, which are interpreted based on the axes of the main constrained residual gravity anomalies.

Patrice Roman, CEO of CDS stated: "The Carson survey has added significant new information to our extensive data base and has defined additional targets for seismic and drilling follow up. We are encouraged by these positive results which confirm and improve our geological model, and intend to test the additional areas of interest as recommended by Carson. The new data will be important when selecting drill sites for a drilling campaign planned to commence later this year, based upon rig availability."

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