Last checked at 18 Jun 2008 07:00
GETECH Group plc ("GETECH" or "the Company")
PROPRIETARY AND NON EXCLUSIVE STUDIES OF THE TAOUDENNI BASIN, NORTH WEST AFRICA
GETECH, the oil services business specialising in the provision of exploration data and petroleum systems studies and evaluations, is pleased to announce the commencement in June 2008 of two new studies of the Taoudenni basin. The basin is located in Mauritania and Mali and contains Proterozoic and Palaeozoic age source rocks. As such it is one of Africa's oldest frontier basins and is currently attracting considerable exploration interest.
One of the studies is a high resolution proprietary geophysical study of an exploration block within the basin using recently acquired gravity, magnetic and seismic data in order to define the geometry and structure of the basin. This study represents the first stage in the exploration-evaluation process prior to planning new seismic surveys and drilling.
The other study is a non-exclusive regional petroleum systems study of the basin in Mauritania and Mali. It involves the compilation and interpretation of all available geological and geophysical data. Much of the geology data is exclusive to GETECH based on many years field work by GETECH's Senior Sedimentologist, who is an acknowledged geological expert on this basin. The study is fully funded by advanced sponsorships and will be completed in the third quarter of calendar year 2008.
Professor Derek Fairhead, Executive Chairman, reported "The commencement of these two studies this month is important to GETECH in that it demonstrates how the company is developing its international range of non-exclusive products as well as undertaking proprietary studies for key players (oil companies) exploring the region. Such studies follow the recent success of our South East Asia petroleum systems studies which continue to develop with the commencement of a further non-exclusive study covering offshore South East China which is due for completion in the fourth quarter of calendar year 2008."
For further information, please contact:
| GETECH Group plc | |
| Derek Fairhead, Executive Chairman | 0113 322 2200 |
| Raymond Wolfson, Chief Executive | 0113 322 2200 |
| WH Ireland Limited | |
| Richard Lindley | 0113 394 6628 |