Wessex Exploration plc : Juan de Nova Update
05/31/2012| 03:55am US/Eastern
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Wessex Exploration PLC (Wessex or the Company) is pleased to
announce that following the purchase of approximately 1,000
kilometres of 2-D seismic data shot by TGS-Nopec in 2006,
Wessex has completed the reprocessing of the dataset, with
particular emphasis on the shallow water area, which will
allow a more accurate subsurface interpretation to be
made.
The Company is currently negotiating terms for the
re-interpretation of the data which once complete is likely
to be followed up by a detailed 2-D seismic survey, or
perhaps a more-focused 3-D survey, later this year, in
preparation for the delineation of a drillable prospect later
in 2013.
This activity is in addition to the ongoing farm in
negotiations which continue apace.
Over recent months, Wessex has seen a significant increase in
industry interest in the Juan de Nova Est permit triggered by
the ongoing very large deep water gas discoveries offshore
Mozambique, across the Mozambique Channel. As a result,
several large Oil & Gas companies have signed confidentiality
agreements with Wessex and are evaluating the data, including
the newly-reprocessed seismic data.
Wessex owns a 70 per cent. interest in Juan de Nova Est
comprising 9,100 square kilometres in the Northern Morondava
Basin in the Mozambique Channel, north-west of Madagascar.
Contacts
Wessex Exploration PLC www.wessexexploration.com
Frederik Dekker - Managing Director +44 (0) 1225 428139
WH Ireland Limited www.wh-ireland.co.uk
John Wakefield / Marc Davies (Corporate Finance) +44 (0) 117
945 3470
Ruari McGirr / Sebastian Wykeham (Institutional Sales) +44
(0) 207 220 1691
Yellow Jersey PR +44 (0) 776 853 7739
Dominic Barretto dominic@yellowjerseypr.com
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