EnerMax Announces Promising Results from 3-D Seismic Imaging
February 28, 2006 - Bret L. Boteler, president of EnerMax, Inc., announced promising numbers regarding new prospects for oil and natural gas wells. In 2004, EnerMax, Inc. entered into an agreement with American Energy, Inc. (AEPI) to join them in their efforts to reprocess newly acquired 3-D seismic data. The massive 3-D seismic library is comprised of over 50 3-D seismic surveys and encompasses over 1 million mineral acres primarily along the Texas/Louisiana Gulf Coast.
GeoTrace Technologies — an industry leader in subsurface data imaging and analyzation — is already producing impressive results with its state of the art reprocessing and interpretation software. Of the four surveys AEPI has received back from GeoTrace Technologies, 17 new prospects have been generated. Many of these prospects are new finds in well-established, hydrocarbon producing fields.
Industry fact: “Since 1990, the vast majority of reserve additions in the United States — 89% of oil reserve additions and 92% of gas reserve additions — have come from finding new reserves in old fields.” (U.S. Dept. of Energy 1999 Study)
Bret L. Boteler is confidently predicting that the prospects generated from these surveys will provide the drilling inventory needed to reach his corporate goal of increasing revenues by at least 500% over the next 5-7 years.
Published Tuesday, February 28th, 2006 at 6:00 am and filed under Press Releases.