WHL Energy: La Bella Seismic Survey Data Encouraging

Australian energy company WHL Energy Limited provided an update on the interpretation of data obtained from the La Bella 3D seismic survey acquired in the Otway Basin permit VIC/P67 (WHL 40% and AWE 60%), offshore Victoria, in late 2013.

While further state-of-the-art and more detailed interpretation studies still need to be completed, initial results are encouraging, with highlights including:

• Preliminary evaluation of an initial Fast Track Volume in the near La Bella area confirms the La Bella gas/condensate field and adjacent exploration prospects to generally be as previously interpreted;

• Stacked amplitude anomalies high-grade the previously identified Ferrier and Mylius features, and

• Preliminary mapping corroborates other previously mapped prospects, although additional work remains to be done.

In addition to the initial FTV, a further Intermediate Volume (IV) has been generated and received by WHL Energy. The data quality from the IV, which is an interim Pre-Stack Time Migration processed sub-volume (PreSTM), is a significant improvement over the previous version, and provides confidence that a high quality seismic data set will be delivered with full broadband PreSTM processing. This fully processed PreSTM volume package is on target to be delivered in late July.

Interpretation of IV is ongoing and a range of additional geophysical, geological and reservoir engineering studies are also in progress as these will allow for a more accurate and reliable evaluation of La Bella Field and the nearby prospects. The initial phases of well planning have also now commenced.

WHL Energy Managing Director, David Rowbottam, said: “The Company is encouraged by the preliminary results and looks forward to providing a further update on the assessment of La Bella and the near field prospects in May.”

Press Release, April 08, 2014