21st Dec 2005 07:00
Offshore Hydrocarbon Mapping PLC21 December 2005 Press Release For immediate release: 21 December 2005 Offshore Hydrocarbon Mapping plc Offshore Hydrocarbon Mapping plc heads for the Falkland Islands Offshore Hydrocarbon Mapping plc ("OHM" or "the Company") has been awarded acontract by Rockhopper Exploration plc, to conduct a Controlled SourceElectromagnetic Survey (CSEM) over a number of prospects including at least oneshallow water prospect in the North Falkland Basin. This is one of OHM's first shallow water contracts since the Company formallylaunched its shallow water CSEM service in November, and the first time thatCSEM will be used in the Falkland Islands. Until now, CSEM was most effective invery deep waters, however OHM has designed a method that overcomes the technicalchallenges of shallow water, and it can be used effectively in depths as shallowas 50 metres. The Falkland Islands Government has licensed exploration acreage to a number ofcompanies in water depths that range from 100 to 500 metres in the north and upto 3,000 metres to the south and west of the Islands. OHM's Chief Executive Officer, Dave Pratt, commented: "Our shallow water service generated significant industry interest at the launchlast month and this early contract with Rockhopper Exploration is very pleasing. "Given the relatively isolated nature of the Falklands, the highly variablewater depths and associated high costs of drilling, it is essential tounderstand as much as possible about drilling prospects to minimize the risk ofdry wells. We will be applying leading edge CSEM techniques to Rockhopper'sprospects to help maximise their understanding." Ends For further information, please contact:Dave Pratt, Chief Executive Officer, OHM Plc, 0870 429 6581www.ohmsurveys.com Aquila Financial Limited Peter Reilly 020 7849 [email protected] Notes to Editors OHM's survey method transmits an electromagnetic field into the earth, which ismodified by the presence of subsurface resistive layers. These changes in thefield are measured and the resulting data is processed to provide information onthe resistive structure of the subsurface. Because hydrocarbon accumulations are generally very resistive, this method canindicate the presence of oil and gas in water depths of as little as 50 metresin certain circumstances, and can detect and map the edges of suchaccumulations. This reduces the risk of drilling non-commercial explorationwells and can reduce the need for appraisal drilling, thereby creatingconsiderable value for oil explorers. The company listed on London's Alternative Investment Market in March 2004. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rockhopper