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Textonic, South Petroleum Company initiate 1500km seismic program in Fergana Basin
Baar, Nov 11, 2007

CJSC South Petroleum Company (SPC) and CJSC Textonic (Textonic) announce that a 1500km seismic program has been initiated in the Fergana Basin, Kyrgyz Republic.

The Santos Operated seismic program will be undertaken on oil and gas exploration licences under tenure to SPC (owned by Santos International Holdings Pty Ltd (Santos) (70%), DWM Petroleum AG (25%) and Kyrgyzneftegas (5%) and Textonic (legally owned by Caspian Oil and Gas Limited and beneficially owned by Santos (33%)) and funded by Santos as part of farmin agreements into SPC and Textonic acreage.

Approximately 849km of seismic will be acquired in SPC licence areas and 689km in Textonic licences. The seismic program was initiated in the Tuzluk (SPC) and Sulukta (Textonic) licences. The program will continue in West-Soh, Soh, Naushkent and Nanai license areas of SPC, and also in Katran, Akbura, Charvak, East-Mailisu and West-Mailisu license areas of Textonic.

The seismic program will be acquired to better define sub-surface structures identified by review work carried out in the last two years. The seismic program is likely to take at least 12 months to complete and represents a total investment in excess of US$10m. The seismic program will be undertaken by geophysical contractors OJSC Saratovneftegeofisica and OJSC Kyrgyzgeofisica.

The exploration licences in the Kyrgyz Republic contain a number of exploration opportunities which, if seismic results are positive, will be matured for drilling in 2008 and beyond.

This survey is the largest and most extensive seismic programs to be undertaken in the Kyrgyz Republic since the Soviet era and represents a significant contribution to oil and gas exploration in the Kyrgyz Republic.

Media Enquiries (Textonic)
Azimbek Joloshov
Managing director
CJSC Textonic
2,Erkindik
Bishkek 720739, Kyrgyz Republic
Tel: +996312665007

Media Enquiries (SPC)
Temirbek Azhykulov
General director
CJSC South Petroleum Company
195, Abdymomunov Street
Bishkek 720040, Kyrgyz Republic
Tel: +996312626760

 
 

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