Bahamas 2D data reveals range of prospects

Bahamas Petroleum has completed acquisition of 1,120 km (696 mi) of long-cable (8-km, or 4.97-mi) 2D seismic over its southern licenses off the Bahamas.

Offshore staff

DOUGLAS, UK -- Bahamas Petroleum has completed acquisition of 1,120 km (696 mi) of long-cable (8-km, or 4.97-mi) 2D seismic over its southern licenses off the Bahamas.

The data confirms the presence of multiple prospects, of which some are four-way closure in nature, while others are combination stratigraphic-structural traps.

CEO Dr Paul Crevello said: "I am very pleased to announce these successful, preliminary results from the seismic survey across our Southern license area. The prospects identified from ship-board analysis of the seismic data validate the presence of the leads identified in the pre-1987 evaluation.”

The company will commission a competent persons report to define the full scope of the seismic analysis, identify and high-grade drillable prospects. and assign resource estimates.

Processing of the new seismic will be performed by Spectrum, which acquired and processed Bahamas Petroleum’s 2010 seismic data.

02/03/2011

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