Anita, Wombat seismic surveys underway

Minza Oil and Gas has begun the Anita and Wombat 2D seismic surveys offshore Timor-Leste using the seismic vessel BOS Atlantic.

Offshore staff

TORTOLA, Virgin Islands -- Minza Oil and Gas has begun the Anita and Wombat 2D seismic surveys offshore Timor-Leste using the seismic vessel BOS Atlantic. The survey covers 800 km (497 mi) of full-fold seismic in JPDA 06-101(A), as well as a small amount of data in the contiguous Australian NT/P62 area. Minza expects data will be processed and interpreted by November.

In other news, FLEX LNG has entered into an agreement to acquire all of the shareholding of Minza, subject to obtaining the necessary regulatory approvals from the Timor-Leste Government. Minza holds the production sharing contract for JPDA 06- 101(A), which is in the Joint Petroleum Development Area in the Timor Sea.

Based on evaluations carried out by third parties, FLEX LNG believes the acreage holds sufficient gas to support a floating liquefaction project. The company is currently selecting partners to jointly develop the acreage.

FLEX LNG hopes to have appraisal wells drilled in 2010 with a final investment decision on the FLNG project by the end of that year. The Anita and Wombat seismic surveys will assist the company in defining potential gas volumes and appraisal well locations, the company says.

09/04/2009

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