Spectrum Inks Deal with DGH to Reprocess Seismic Offshore India

Spectrum has signed an agreement with India's Directorate General of Hydrocarbons (DGH) to reprocess up to 10,100 line km 2D of their seismic data offshore the Andaman Islands frontier on the East Coast of India, and to license the results to third parties.

The new agreement follows the Indian government's launch of the NELP VIII Licensing Round that comprises 8 blocks offshore Andaman Islands. Many of the lines proposed by Spectrum for reprocessing cross this frontier area.

Today's announcement follows the completion of Spectrum's highly successful reprocessing of 12,000kms seismic data offshore West Coast of India in 2007.

David Rowlands, CEO of Spectrum commented, "Our previous West Coast reprocessing project demonstrated that our combination of bespoke software and proprietary seismic reprocessing techniques can offer dramatic improvements in data quality, particularly in sub basalt imaging."

David continued, "With this second project in India in conjunction with the DGH, Spectrum is continuing its commitment to the promotion of exploration in the Indian sub continent."

NELP-VIII was announced on April 9th and bids will close on October 12th 2009.