AUSTRALIA

Exxon, Drillsearch start Bonaparte seismic

EXXONMOBIL's subsidiary Esso Venutures and Drillsearch Energy have begun 2D seismic operations in the next phase of their exploration program in the Bonaparte Basin in WA 318-P.

Exxon, Drillsearch start Bonaparte seismic

Drillsearch said the seismic survey started on Monday May 19 and would cover over 1000km of the permit.

The new survey will provide infill data to the existing seismic grid, cover some previously identified leads and provide additional data to increase the geologic understanding of this part of the basin, the company said.

The data would also be used in conjunction with the seismic reprocessing program already underway, to develop forward exploration plans in the permit area.

As part of the initial farm-in agreement, Exxon would earn an additional 10% working interest and hold 65% of the permit by funding $US1.35 million of the cost of the survey.

Drillsearch currently holds a 35% working interest in WA 318-P and on completion of the survey will hold a 25% working interest.

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