Seismic Acquisitions
Using 3D technology, EnerMax is discovering many bypassed and previously undetected reserves in well-established producing areas. At one time, these areas were thought to be almost depleted, but advanced technologies are paving the way to reach previously inaccessible reserves, "allowing economic access to domestic resources that are concentrated in deeper formations, tighter zones, deeper water, more sensitive environments, and increasingly more unconventional settings" (1999 study conducted by the U.S. Department of Energy). With the help of 3D technology, EnerMax is now generating prospects in-house, providing substantial cost-savings to our partners. The following surveys represent the areas in which EnerMax is actively pursuing exploration and development opportunities.
Gulf Coast 3-D Seismic Survey
As part of our strategy to provide economical drilling programs to our partners, EnerMax, through an agreement with AEPI, has acquired access to a large 3-D seismic database covering 1,978 square miles (1,265,920 acres) along the rich, proven fields of the Texas/Louisiana Gulf Coast Region. Comprised of over 50 individual surveys, the data was gathered through seismic data exchanges from independent owners, new seismic acquisitions from proprietary 3-D seismic data shoots, joint underwriting arrangements between exploration companies, seismic companies and numerous other available means. Experts skilled in the geophysical and geological sciences (G&G) are currently analyzing the seismic data in detail to identify and develop high quality oil and gas prospects.
EnerMax and AEPI are selling prospects generated out of this data set to other industry companies as well as funding prospects internally with our own partners. These prospects are given initial evaluations with rankings for probability of success. They are then further reviewed using criteria such as: cost of exploration, accessibility of gas transmission lines and potential economic reward. Initial findings are very encouraging, and EnerMax expects a continuous flow of prospects to be generated from this survey over the next 7-10 years.
Green Lakes 3-D Seismic Survey
The Green Lakes 3-D Seismic Survey covers 86 square miles and encompasses over 55,000 mineral acres situated in Galveston County, Texas, along the highly prolific Upper Texas Gulf Coast. Exxon-Mobil originally acquired the seismic data in 1998 as part of an attempt to identify exploration opportunities of reservoirs at depths exceeding 20,000'. The seismic data revealed that the reservoirs at these depths could not produce enough hydrocarbons to cover their massive overhead costs, so the data set was consequentially shelved. However, the survey revealed what appear to be numerous shallow reservoirs present which have not yet been developed. These reservoirs are evidenced in existing wells and verified through 2-D and 3-D seismic.
EnerMax, through an agreement with AEPI, has acquired access to state of the art 3-D seismic data covering 37 square miles in order to explore and develop the area. We believe it offers great potential for multi-pay zone development. The data has been reprocessed to GeoTrace's specifications along with the most modern applications of processing, AVO modeling and other enhancements. Reprocessing the data has significantly enhanced the quality of the prospects identified.
