Advent discovers new potential from Sydney basin seismic

Advent Energy has interpreted significant new seismically indicated gas features in an ongoing review of its exploration data for the PEP11 offshore Sydney basin project, says Advent.

Offshore staff

SYDNEY -- Advent Energy has interpreted significant new seismically indicated gas features in an ongoing review of its exploration data for the PEP11 offshore Sydney basin project, says Advent.

The company has previously reported a prospective P10 unrisked gas resource estimate of 16.3 tcf for the permit.

Key indicators of hydrocarbon accumulation features have been interpreted from the ongoing review of 2004 seismic data. If confirmed by drilling, these seismic features are of immense significance to any commercial development of the project, the company says.

The seismic features include apparent Hydrocarbon Related Diagenetic Zones (HRDZ), potential Amplitude Versus Offset (AVO) features, and flat spots.

Advent is also continuing to pursue joint venture discussions and is looking to secure an appropriate drilling rig to test PEP11.

03/23/2009

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