28th Jun 2006 07:02
Offshore Hydrocarbon Mapping PLC28 June 2006 PRESS RELEASEFor immediate release: 28 June, 2006 OHM delivers preliminary report to Rockhopper Exploration Offshore Hydrocarbon Mapping plc ("OHM" or The Company") (AIM:OHM) has delivereda preliminary report to its client Rockhopper Exploration ("Rockhopper") on theControlled Source Electromagnetic (CSEM) surveys conducted earlier this year,over two areas within Rockhopper's North Falkland Basin exploration acreage. Rockhopper has announced today that the preliminary CSEM results, when combinedwith the existing seismic data, give a positive indication consistent with thepresence of hydrocarbons. Rockhopper has also cautioned, and OHM concurs, thatfurther work is required on merging the recently acquired 2D seismic data, whenit is processed and interpreted, with the CSEM data. A final report taking intoaccount the new seismic data will be delivered to Rockhopper after the newseismic data is fully processed. The two surveys undertaken by OHM demonstrate the advances the Company has madein the CSEM technique. The shallow water depths prevalent in the areanecessitated the use of OHM's advanced survey techniques and severe weatherconditions had to be overcome. Complex geology, especially the variability indepth of a resistive geological basement required advanced processing of thedata. In its simplest manifestation, CSEM seeks out "resistive anomalies" in thesubsurface geology. Such resistive anomalies are, in the right conditions,indicative of the presence of hydrocarbons. However in many areas like theFalklands, the complexity of the geology means that such "anomalies" could becaused by factors other than hydrocarbons. OHM's advanced processing techniquesproduce detailed images of the location of resistive bodies. When integratedwith seismic data and the clients' geological interpretations, these imagessignificantly reduce the risk of "anomalies" being due to factors like shallownon commercial gas or basement variability. Dave Pratt, OHM's CEO, commented: "OHM provides its clients with usable information upon which the client can makeinformed exploration decisions on whether to conduct further studies, drill awell or discount the prospect. This was the first CSEM survey to be conducted inthe Falklands and we are delighted to have overcome the challenges of not onlyconducting the survey but also interpreting the data gathered correctly. Ibelieve that we have provided Rockhopper with information that willsignificantly impact on their exploration risks." "This is a rare public insight into the highly valuable contribution we can maketo our clients exploration projects, since much of the work we conduct for themajor oil companies is kept secret. Over the past few years, we have seenexcellent correlation between the predictions from our surveys and the outcomesof exploration drilling and we look forward to seeing these results furtherenhanced using our unique ability to integrate the new seismic data and then,should the prognosis remain positive, ultimately confirmed by a well." Contact details: Offshore Hydrocarbon Mapping plc www.ohmsurveys.comDave Pratt 0870 429 6581 Aquila Financial Ltd www.aquila-financial.comPeter Reilly 020 7202 2601Yvonne Fraser 020 7202 2609 Notes to editors Offshore Hydrocarbon Mapping plcwww.ohmsurveys.com Offshore Hydrocarbon Mapping plc, listed on London's Alternative InvestmentMarket in March 2004 (OHM). 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. Rockhopper Exploration plcwww.rockhopperexploration.co.uk The Rockhopper Group started trading in February 2004 to invest in and carry outan offshore oil exploration programme to the north of the Falkland Islands. TheGroup, floated on AIM (RKH) in August 2005, is currently the largest licence holder in the North Falkland Basin and has a 100 per cent. interest in four offshore production licences which cover approximately 5,800 sq. km. These licences have been granted by the Falkland Islands government. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rockhopper