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Heavy Earth Resources completed a 94 sq km (37 sq miles) 3-D seismic survey over the northern portion of the Morichito block in the Llanos basin in Colombia.
The seismic survey was completed ahead of schedule and on budget. Preliminary analysis indicated the quality of the data is better than expected.
“We believe the new 3D seismic preliminary processing volumes have confirmed the structural traps in the C5, C7, and Gacheta intervals identified in previous 2-D surveys,” said Grant Draper, the company’s CEO. “In the coming weeks, we expect the new 3-D seismic to identify additional prospective leads in the Carbonera, Mirador, Gacheta, and Ubaque intervals on the Morichito block.”
Ten undrilled prospects on the block plus additional prospects will be identified in the Carbonera, Mirador, Gacheta, and Ubaque from the new 3-D data.
Heavy Earth is in the process of merging its 3D seismic surveys and anticipates defining new prospects to drill in the next two years and to fulfill its obligations for the relinquishment of 50% of the block area in conjunction with a two-year E&P contract extension from the Colombian Agencia Nacional de Hidrocarburos. Heavy Earth anticipates the merging of its 3-D seismic data to be complete by late July.