Offshore staff

HOUSTON -- GX Technology Corp. has completed data acquisition for the Beaufort East and Chukchi phases of its latest basin-scale seismic program, ArcticSpan. The Beaufort East phase will provide high-resolution subsurface images of prospective targets in the Mackenzie Delta region and its contiguous continental margin of the Canada basin offshore Canada. The Chukchi phase will provide a regional 2D seismic framework for the entire Chukchi outer continental shelf area.

"We are proud to add ArcticSpan to our portfolio and look forward to helping our customers locate the 30 Bboe the US Geological Survey estimates is undiscovered in the Mackenzie Delta region of North America," says Mick Lambert, president of GX Technology.

ArcticSpan comprises 6,500 km (40 mi) of 2D data along the northern coasts of Alaska and Canada. The program was designed to transect key geologic features and improve geoscientists' understanding of the depositional history of the area. This survey involved very long offsets of 9,000 m (29,527 ft), record lengths of 18 sec, and a specially designed seismic source to illuminate the basin. GXT will use its processing and depth imaging techniques to deliver the structural framework in the depth domain with an unprecedented ultra-deep focus. With each dataset, clients will receive an interpretation report designed to help in identifying potential play types and exploration prospects in the area.

GXT will begin delivery of the ArcticSpan dataset in time for customers to analyze the data in advance of the MMS Chukchi lease sale scheduled for next November.

11-15-06