Spectrum Announces Additional Seismic Data in Nigeria

Spectrum is pleased to announce that they now have available additional block specific seismic data totaling almost 11,000 km from 15 onshore and shallow water blocks in the Niger Delta province of Nigeria. The data relates to onshore blocks including OPL 135, 205, 206, 234 and 452. The shallow water blocks include OML 115 and OPL's 227, 229, 309, 310, and 471. Some of these blocks are unlicensed and others have been assigned to indigenous companies.

With reference to the blocks allocated to indigenous companies, the licenses have been assigned at intervals between 1991 and 2001. The open blocks with available data include OPL 135,227,234 and 471. It is Spectrum's understanding that at least some of these blocks will be included in the forthcoming licensing round and subsequently available for bidding by both indigenous and international oil companies. The Indigenous companies are believed to be seeking international companies as farm in partners, in order to further develop their concessions. Some of these concessions have already been drilled and some have undeveloped discoveries. The block specific seismic data is available in enhanced digital format together with full supporting positional data. This allows for the use of workstations to evaluate the data and the opportunities within the various concessions.

This data package compliments the Mabon / Spectrum Niger Delta Regional Seismic & Well Database which was completed in 1998. The regional database comprises over 7,600 Km of scanned and reprocessed seismic data merged to produce regional profiles traversing the delta. The well database includes scanned and digitized curves from 216 strategic wells across the Niger Delta Province.

For further information please contact:

Spectrum Energy and Information Technology Ltd.
Spectrum House,56Goldsworth Road,
Woking, Surrey GU21 1LQ
Tel + 44 1483 730201 Fax + 44 1483 762620
Email: dalia.gamali@spectnun-eit.co.uk
Web: http://www.spectnun-eit.co.uk

OR

Yinka Adeyemi at:
Spectrum Energy and Information Technology West Africa Ltd.
15 Lapido Kasumu Street
Ikeja, Nigeria
Tel/ Fax: + 234 1 493 6561
Email: swaagency@hyperia.com or spectnun@alpha.linkserve.com.

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