Otto to Commence 3D Seismic Acquisition in SC55
Source: www.gulfoilandgas.com 12/9/2009, Location: Asia
Otto Energy Limited is pleased to announce that it will be commencing a 3D seismic data acquisition program in SC55. The Company plans to acquire 590km/sq of 3D data in the southwest part of SC55 (as outlined in the attached map). The programme is designed to mature the Hawkeye structure and several other key leads in the licence area. The seismic vessel is scheduled to arrive in the survey area on 14 December 2009.
SC55 covers 9,000km2 in the southwest Palawan Basin, Philippines. It is located on a regional oil and gas fairway that extends from the productive Borneo offshore region in the southwest to the offshore Philippines production assets northwest of Palawan.
Otto has an 85% working interest in SC55 and is the operator. The seismic programme will satisfy Otto’s commitments under its work programme for the current sub?phase of exploration of this block.
