New Seismic Data May Lift Artemis Gas Estimate

14 July 2009 (Last Updated July 14th, 2009 18:30)

MEO Australia said that new 3D seismic data gathered from the Artemis survey suggests the presence of more than 9.5 trillion cubic feet of gas resources in its WA-360-P permit off Western Australia. A preliminary interpretation of data from the 250km survey shows an extension of the "n

MEO Australia said that new 3D seismic data gathered from the Artemis survey suggests the presence of more than 9.5 trillion cubic feet of gas resources in its WA-360-P permit off Western Australia.

A preliminary interpretation of data from the 250km survey shows an extension of the "northern boundary" of the Artemis prospect and "increases the size of its structural trap", MEO said in a statement.

Well data obtained from the Zeus-1 wildcat drilled in the nearby WA-361-P permit also suggests the presence of possible "high-quality" formation reservoir sands, the company said.

According to MEO the combined findings from the well and seismic data could mean an increase from the pre-drill estimated volume of 9.5tcf in WA-360-P.