Vanco starts offshore Madagascar 3D seismic acquisition program

Vanco Madagascar Ltd., a wholly owned subsidiary of Vanco Energy Co., with the Majunga Offshore Profond joint venture group, is conducting a comprehensive 3D seismic acquisition program covering 3,657 sq km of the deepwater portion of the block.

Majunga Offshore Profond is offshore northwestern Madagascar and includes 4.4 million acres. The survey will further evaluate the hydrocarbon potential of the Majunga salt basin.

The current 3D program is designed to identify and evaluate potential drilling locations for an exploratory drilling program. PGS is acquiring the seismic data with theM/V Ramform Challenger.

he acquisition program, which started on July 31, represents the first 3D seismic ever acquired in East Africa. The Vanco Group is exploring in Madagascar under a Production Sharing Contract signed with OMNIS, the national oil and gas company, in March 2001.

The joint venture group comprises Vanco Madagascar Ltd. as operator with 30%, ExxonMobil Exploration and Production Madagascar Majunga Ltd. 40%, and Norsk Hydro Majunga AS 30%.

08/27/04