Suldaanka Posted April 11, 2008 TGS Acquires Multi-Client Seismic And Aeromagnetic Programs In Somaliland Asker, Norway, Apr 11, 2008 - (ABN Newswire) - Asker, Norway (11 April 2008) - TGS-NOPEC Geophysical Company (TGS) announced today that it has completed acquisition of two new multi-client programs in Somaliland. Offshore, TGS has acquired approximately 5,100 kilometers of 2D seismic, gravity, and magnetic data covering both shallow and deep water areas. Processing and interpretation of the data should be available to clients by the third quarter of 2008. Onshore, TGS has acquired approximately 34,000 kilometers of high resolution aeromagnetic data covering all known Somaliland petroleum basins. The aeromagnetic data is currently in processing and should be available to clients by mid-2008. Both programs have been acquired in cooperation with the Ministry of Water and Natural Resources and are marketed exclusively by TGS. The Somaliland government has announced its intent to conduct an open bid round later in the year after the data become available. The seismic and aeromagnetic programs being acquired by TGS will provide data needed to define the principle structural elements of the area and allow for the development of leads, plays, and structural highs for further investigation. The area is geologically analogous to Yemen where several oil fields have been discovered to date. Both programs are supported by industry prefunding. TGS-NOPEC Geophysical Company (TGS) is a principal resource for global geoscientific data products and services in the E&P industry. TGS specializes in the design, acquisition and processing of multi-client seismic surveys worldwide and delivers advanced high performance seismic imaging and software solutions. The Company also provides the world's largest online well-log database, well data management services, multi-client interpretive products and subsurface consulting services to industry. The suite of integrated exploration data products available from TGS is distinctive and unmatched. The Company philosophy is to create unique high-quality data collected in the right place at the right time. All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason. TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO: TGS). For more information about this news release, please contact: Quote Share this post Link to post Share on other sites
Suldaanka Posted April 11, 2008 Press Release: Somaliland Ministry of Water and Mineral Resources The Somaliland Ministry of Water and Mineral Resources, lead by the minister H.E. Qasim Sh. Yussuf Ibrahim is pleased to announce that TGS-NOPEC Geophysical Company (“TGS”) recently completed an on-shore program of 34,600 kilometers of aeromagnetic data and a 2D seismic survey of offshore Somaliland, consisting of 5,100 KM of modern seismic data. Both data programs are currently being processed for an international bid round planned for late 2008. In March 2007. TGS acquired 1000 KM of offshore seismic as well. TGS is the first seismic company to gather new geophysical data in the Republic of Somaliland in almost thirty years. TGS is well qualified to conduct the Somaliland geophysical program. TGS is a Norwegian public company listed on the Oslo Stock Exchange (Oslo Børs). TGS specializes in the design, acquisition and processing of 2D and 3D multi-client seismic surveys worldwide. Since its founding in 1984, TGS has embraced the multi-client model, acquiring over 2,000,000 line kilometers of 2D data and 88,000 square kilometers of 3D seismic data in North and South America, Europe, Africa and Asia. For the record, the facts about TGS’ dealings with the Somaliland government are as follows. TGS has been authorized under an Agreement with our Ministry of Water and Mineral Resources (“Ministry”) to undertake seismic and aeromagnetic surveys on behalf of the Republic of Somaliland. In return, TGS is creating a geophysical database at no cost to the Government which it will market on behalf of Somaliland. To be clear, TGS has not made any payments to the Ministry or the Minister for the authorization to conduct the geophysical program. The seismic and aeromagnetic data is the national property of Somaliland under the multi-client data acquisition agreement. TGS has no ownership interest in the Somaliland data. TGS has also undertaken, at no cost to the Government, to carry out training of Ministry personnel in seismic processing and interpretation under a technology transfer project. The multi-client model of data acquisition is well established in the international oil and gas exploration market. Multi-client agreements are not subject to bidding or bid rounds since the multi-client data company is risking its own money to conduct the data surveys. Under the TGS multi-client model, TGS will not recover on its investment until the data is successfully sold multiple times. The multi-client model is of mutual benefit to both Somaliland and TGS. Through multi-client sales, TGS spreads the costs of a survey to multiple parties, lowering the cost and barrier to entry for exploration by numerous oil companies, small and large. Somaliland through the multi-client model receives a modern database at no cost, a revenue share in future data sales and more potential bidders for the valuable resources of Somaliland. As a result, Somaliland should have more high-quality oil companies willing to invest in Somaliland’s future. In order to promote Somaliland’s natural resources and our new modern geophysical database, the Ministry shall send representatives to the American Association of Petroleum Geologists (“AAPG”) convention in San Antonio Texas at the end of April. The Minister and representative shall meet and promote Somaliland working closely with TGS. It is estimated that close 7000 delegates will attend this year’s conference. Part of the promotion shall highlight the Ministry’s efforts to hold a bid round for all open blocks in Somaliland by the end of 2008. As part of our preparation for the bid round, the Ministry has sought independent legal advice to revise our Petroleum Law to meet international standards. Any such changes shall be submitted to the legislative process for revision and approval. The Ministry is excited about completion of the TGS geophysical surveys and looks forward to bringing substantial foreign investment to Somaliland. Qasim Sh. Yussuf Ibrahim - Minister Ministry of Water & Mineral Resources Hargeisa, Republic of Somaliland. Quote Share this post Link to post Share on other sites
N.O.R.F Posted April 12, 2008 Somaliland Aeromagnetic Survey Acquisition Parameters Acquisition Date: December 2007 - February 2008 Data Acquired By: GPX Airborne Pty. Ltd. Navigation System: GeoNav 1000 Data Acquisition System: Pico Envirotec AGIS PC104 Magnetometer Processor: Pico Envirotec MMS-4 Magnetometer Processor Magnetometer Sensor: Geometrics G-822A Fluxgate Magnetometer: Bilingsley Ultra Miniature TFM 100G2 Base Magnetometer: GEM GSM-19W Overhauser Magnetometer GSP and DGPS Receiver: CSI Hemisphere Line Spacing: 2500m/5000m/16000m Line Direction: 045-225 degrees Tie Line Spacing: 10000m/20000m/16000m Tie Line Direction: 135-315 degrees Survey Height: 120m Magnetometer Sample Rate: 10 Hz Base Magnetometer Sample Rate: 1 Hz DGPS Sampe Rate: 5 Hz Processing Sequence Data processing performed by GPX Airborne Pty. Ltd. Raw, unedited data checked for noise and spikes Magnetic Diurnal Data checked and corrected for spikes Diurnal Correction Parallax Correction IGRF Correction Tie Line Leveling Micro Leveling Gridding and Inspection Available Deliverables Final digital data as flat ASCII file Final magnetic grids in jpeg format (Total Magnetic Intensity, Reduced To Pole, Digital Elevation Module, Total Magnetic Intensity First Vertical Derivative, Basement Depth Slice, Basement Residual, Band Pass Filter 1, Band Pass Filter 2) March 27, 2008 source Someone please translate Quote Share this post Link to post Share on other sites
Jacaylbaro Posted April 13, 2008 loooooool ,, Quote Share this post Link to post Share on other sites
Suldaanka Posted April 13, 2008 The suspicious aircraft flights that were reported from Las Qorey to Zaylac last year might have been related to this Aeromagnetic thingo. Dawladu waxay dadka ugu sheegi wayday ayaa cajiibleh. Why is it some places more darker than others? Dhagax-shabeel area waa ku dhiiqaysatayba, talaw ma halka macdantu ku duugantayba? Quote Share this post Link to post Share on other sites
N.O.R.F Posted April 13, 2008 ^^I don't know. I'm assuming the dark patches are where the oil basins could be. Berbera! Quote Share this post Link to post Share on other sites
Jacaylbaro Posted April 13, 2008 Like North said ,, we need translation ,,, Quote Share this post Link to post Share on other sites
