BPC, the AIM listed exploration company with licences in the Bahamas, last month confirmed the preliminary results of its recently acquired 2D marine seismic survey. The 194 km programme was shot in June 2010 over the company’s southern licences, which lie adjacent to Cuban waters, and was acquired using a long streamer (10.2 km) with data recorded to 8.5 seconds. The use of modern acquisition and processing technology has resulted in a major improvement in the quality and resolution of the seismic data, compared to previous data from the 1980s, and has helped to confirm the geological model for the area, which the company believes is highly prospective for hydrocarbons.
According to BPC, the new seismic data shows large scale, compressional anticlinal folds up to 10 x 20 km with vertical closure up to 4000 ft; and various possible ‘direct hydrocarbon indicators’, such as flat spots, dim zones, and possible hydrocarbon leakage features which, if confirmed, could indicate an active hydrocarbon system in the area and significantly de-risk future exploration prospects.
BPC says it is very encouraged by the high quality and resolution of the new data, and will undertake further seismic acquisition in its southern licences before the end of the year with bids being sought for a phased 2D and 3D seismic programme.
The company has applied to the government of the Bahamas for up to 3600 km2 of additional acreage on trend with these licences, the licence awards for which are expected to be announced before the end of the year. Alan Burns, chairman of BPC, said: ‘I am very pleased to report the impressive 2D seismic results from our southern licence area. The large structures and geological formations are further substantiated by the drill cores we already own from the area and give us indentified potential prospects on which we will be acquiring additional seismic later in the year, as we work toward exploration drilling.’
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