16th Aug 2006 07:01
Cambrian Oil & Gas PLC16 August 2006 16 August 2006 Cambrian Oil & Gas Plc ("COIL" or "the Company") New Tash Kumyr Seismic Interpretation Completed Cambrian Oil and Gas Plc announces the following progress from its Tash Kumyrexploration project in the Kyrgyz Republic. Key Points: • Processing and interpretation of new Tash Kumyr seismic data has been completed • The results increase confidence that the permit area contains a number of prospective targets • Revised maps of potential structures align with surface geochemical results from the Company's 2005 Gore SurveyTM • The attached map shows the improved structural definition and the alignment of seismic and geochemical survey results • COIL has successfully applied to expand its licence area to cover possible extensions of prospects into adjoining areas • COIL has started its 2006 summer exploration programme. This programme includes: - further seismic and geochemical surveys at Tash Kumyr, Pishkaran and a new Kyzyl Djar license area; and - a geochemical survey over the Toktogul structure on the Company's exploration permit NP-142. Tash Kumyr Exploration Programme New and old seismic data has been interpreted to yield a new map, which hasincreased COIL's confidence in possible drilling targets in the permit area; themap of the target Palaeogene horizon is attached to this announcement. The new interpretation shows improved definition of two potential anticlinalstructures and a number of other leads. The identified prospects and leads alignwell with previously mapped geochemical anomalies that indicate potentialhydrocarbon entrapment in one or more of those prospects and leads. The southern structure is on trend with the Mailisai producing field just to thesouthwest and shows good correlation with a geochemical anomaly detected by our2005 Gore Survey over this same area. This interpretation broadly aligns withour previous interpretation in this area. The northern structure has the potential to be larger than originally mapped andit now appears to extend north of the survey area. A geochemical hydrocarbontype anomaly wraps around the edges of what appears to be the crest on thismapped structure. While the previous interpretation postulated a central anticlinal structurebetween the northern and southern anticlinal structures, the new interpretationmaterially redefines this structure as a ridge joining the southern and northernstructures. However, this newly interpreted ridge aligns strongly with asimilarly shaped geochemical anomaly that runs between the remapped northern andsouthern structures. A separate fault block feature to the southeast remains as previously mapped andties with geochemical responses in this area. Expanded licence area COIL has successfully applied to extend the northern boundary of the Tash Kumyrarea of Licence NG-72-00. This will allow further seismic and other mapping todefine the northern limit of the northern prospect. A new licence has been granted to cover an area to the west and southwest of theTash Kumyr survey area. This will cover possible extensions of the southernprospect in these directions. 2006 Seismic programme COIL has commenced its 2006 summer exploration and appraisal programme. Thisprogramme includes: 1) further seismic (40 km) and geochemical surveys within the Tash Kumyrand Kyzyl Djar areas, and 2) a geochemical surface survey to screen for the possible subsurfacepresence of hydrocarbons at the Toktogul structure within the Company's ToktogulExploration Permit NP-142 located some 80km north west of the Tash Kymyr region. Given the improved definition of the main prospects within the Tash Kumyrlicence area, COIL may seek a farm-inee to take up some of its participationinterest in this exploration licence. Toktogul Exploration Programme The geochemical Gore Survey in this area will screen for the possible subsurfacepresence of hydrocarbons in the large Toktogul structure on the Company'sexploration permit NP-142. Neale Taylor, Chief Executive Officer of Cambrian Oil and Gas Plc, said: "The new seismic interpretation at our Tash Kumyr exploration licence buildsconfidence in several of our South Karagundai prospects. We now need to definethe best way forward via more seismic or other surface work and we expect tosoon start planning the drilling our first exploration well." Neale Taylor, B.Sc (Applied Geology, Hons), MS (Pet Eng), a Director of theCompany and a qualified person in the terms of the AIM Rules of London StockExchange PLC, has compiled, read and approved the technical disclosure in thisregulatory announcement. The technical disclosure in this announcement complieswith the SPE Standard. TM - a trademark of W.L. Gore & Associates Inc, Ends For Further Information please contact: Cambrian Oil & Gas Neale Taylor, CEO +44 (0) 20 7409 0890 Paul Mc Groary, Director +44 (0) 79 3056 8160WH Ireland Peter Jackson +44 (0) 20 7220 1666Parkgreen Communications Victoria Thomas +44 (0) 20 7493 3713 Please click on the following link to download the PDF document that containsthe New Seismic Time Map showing Potential Structures in the South KaragundaiArea of the Tash Kumyr Exploration Licence NG-72-00 & Comparison with the 2005Gore Survey Geochemical Survey Results http://www.rns-pdf.londonstockexchange.com/rns/7128h_-2006-8-15.pdf Maps are not shown on exactly the same scales but allow comparison of similarkey structural features and geochemical anomalies ** the new map interpretation was complied by TEEC, a German seismic processingand interpretation company. They processed and interpreted approximate 60 linekms of 2D seismic acquired by COIL in late 2005 plus 15 km of existing seismic;they also considered a number of other old seismic lines and available surfacegeological maps to complete their interpretation. The mapped Paleogene horizonis a subthrust layer that lies beneath overthrust layers of older Jurassic andCretaceous layers. These overthrust layers reduce the quality of the seismicreflections from the underlying but younger Palaeogene target horizons. TEEC applied its proprietary, advanced CRS processing technique to improvethe level of resolution of seismic reflections from the underlying targethorizons. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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