Coiled Thera Regulatory News (COIL)

27 Sep 2005 07:01

Cambrian Oil & Gas PLC27 September 2005 Cambrian Oil & Gas Plc ("COIL" or "the Company") Tash Kumyr Seismic Survey Commences Cambrian Oil and Gas Plc announces that on 20 September 2005 it commenced a100km 2D seismic survey in its Tash Kumyr Licence Number NG-72-00 in the KyrgyzRepublic. Key Points: • Areas of interest that have been high-graded by geochemical surveying are being investigated by the seismic survey • Data acquisition will take approximately 3 months • Cost is approximately $400,000 COIL has commissioned JSC Kyrgyzgeophysica, a local Kyrgyz geophysical servicescompany, to undertake the survey and has been working closely withKyrgyzgeophysica on planning the survey. COIL has also assisted Kyrgyzgeophysicato upgrade equipment, as well as to supply imported, higher velocity, precisionexplosives for the seismic charges to provide better mapping definition. A layout of the survey is attached and the seismic line pattern is shown as anoverlay on the structural outlines of currently mapped prospects, together withthe recently announced Gore SurveyTM geochemistry results. The map shows thelocation of an abandoned well bore (Keppeli-14) which possibly penetrates one ofthe Gore Survey anomalies. A review of well records shows hydrocarbon indicatorsat several possible target depths. A re-entry workover is being considered totest one or more of the target horizons. Neale Taylor, Chief Executive Officer of Cambrian Oil and Gas Plc, said: "Theresults of the seismic survey will be considered together with the results ofthe recent Gore SurveyTM. We expect to define 1-3 locations for drilling, whichwe anticipate will begin next spring/summer." Click on the following link to download the PDF document related to thisannouncement to view the layout of the 100km 2D seismic survey in its Tash KumyrLicence Number NG-72-00 in the Kyrgyz Republic. http://www.rns-pdf.londonstockexchange.com/rns/7826r_-2005-9-26.pdf Ends For Further Information please contact: Cambrian Oil & Gas Neale Taylor, CEO +44 (0) 20 7493 7671 Paul Mc Groary, Director +44 (0) 79 3056 8160Parkgreen Communications Victoria Thomas +44 (0) 20 7493 3713 Notes to editors: About Cambrian Oil & Gas: Cambrian Oil & Gas (AIM : COIL), previously Silvermines Media Plc (AIM : SLV) acompany first admitted to trading on AIM on 15 July 2004, was readmitted to AIMon 1 March 2005 following an acquisition of the entire issued share capital ofZhibek Resources Plc. Zhibek was formed in February 2004 for the purpose ofconducting oil exploration, development and production activities in CentralAsia and FSU. COIL currently has three operational projects in the Kyrgyz Republic; theBeshkent-Togap water injection project; the Tash Kumyr exploration project, anexploration licence area with 5 prospects and a recently acquired intermountainbasin exploration licence area, which adjoins Lake Toktogul. Drilling at TashKumyr is expected to begin in 2006, following completion of the 2D seismicprogram which began on 20 September 2005. The Beshkent-Togap Oil Field is located in the south-western region of theKyrgyz Republic. The field is approximately 14 kilometres long and twokilometres wide. It is situated approximately 300 kilometres west of the Kyrgyzoil refinery at Jalal Abad and approximately 200 kilometres southwest of theUzbekistan oil refinery in the city of Fergana. The Beshkent-Togap oil field currently has in excess of 70 producing wells withan estimated 65-76 million barrels (MB) of oil in place. To date, only 4.1 MBof oil has been produced on the field. COIL holds a 50% equity interest in theuplift in production from the previous level, prior to the water injectionproject, and after recovery of its capital outlay via an initial 70% share.There is the potential to achieve upside incremental oil recovery of 6MB. GORE(TM) Survey Applications : The GORE Survey TM method is a surface geochemical sampling system employing theGORE-SORBERR module (patented passive soil vapour sampling device),state-of-the-art chemical analysis and sophisticated statistical geochemicalpattern recognition. This surface geochemical sampling technique has evolvedfrom over fifteen years of experience in soil gas geochemical exploration andanalytical chemistry, and is capable of differentiating reservoir hydrocarbonsfrom "background" hydrocarbons (emanating from vegetation, shallow pollution,source rock, etc.). Typical applications of this technique include: 1) Frontier- to determine hydrocarbon potential over large previously unexplored areas; 2)Exploration - focus geophysical efforts, prioritize leads or investigatestratigraphic traps; 3) Development - define the areal extent of producingfields and locate potential areas for secondary recovery. Prudent use andintegration of the geochemical results can have significant benefits to thesuccess of an exploration program, resulting in fewer dry holes. This information is provided by RNS The company news service from the London Stock Exchange