EUROPE

Maltese seismic has new start date

After a short delay an Australian Joint Venture, including Sun Resources, Pancontinental Oil & Ga...

The project was previously halted for two months due to the contractor's vessel remaining in dry dock for repairs. Now the participants will use the program to confirm the extent and nature of large stacked Lower Cretaceous to Eocene age reef mound structures that have been delineated by Afrex-Pancon’s reconnaissance 2D seismic in ESA Area 5.

Previous Afrex-Pancon seismic data suggests the presence of stacked individual target mounds which are of a large size, greater than 70sq.km in areal extent, with the added dimensions of considerable depth (500 to 700m in extent) giving large potential volume targets for accumulations of hydrocarbons.

Sun Resources will make a $325,000 contribution to the cost of acquiring the 2D seismic to earn a 20% interest in the project.

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