Oyster Oil and Gas Ltd. (Oyster) is pleased to announce the commencement of an onshore geophysical survey (Survey) in the Republic of Djibouti. The Survey is a regional geophysical program covering some 450kms located in the onshore Blocks 1, 2 & 4.
Oyster has contracted the Centre d’Etude et de Recherche de Djibouti (CERD) and Imagir of France to undertake the acquisition and processing of magnetotelluric and gravity survey data. Oyster anticipates that the acquisition and processing will be completed by end of 2013.
Dr. Phil Roach, Exploration Consultant commented “We have been encouraged by our geological and geophysical work in Djibouti and have identified potentially good quality oil source rocks and also good reservoir potential. This geophysical survey will help to provide a regional understanding of the deposition and sedimentary basins in Djibouti. This is one of the largest of this type of survey in the region and we hope it will greatly assist in our understanding of the hydrocarbon systems and allow us to unlock the potential in Djibouti.”
Oyster holds 100% interest in four blocks in the Republic of Djibouti and is the Operator.
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