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Thursday, October 10, 2013
Oyster Oil & Gas has launched its onshore geophysical survey in Djibouti. The survey is a regional geophysical program covering an estimated 450 km located in the onshore Blocks 1, 2, and 4.
Oyster contracted the Centre d’Etude et de Recherche de Djibouti (CERD) and Imagir of France to undertake the acquisition and processing of magnetotelluric and gravity survey data. Oyster anticipates that the acquisition and processing will be completed by the end of the year.
Dr. Phil Roach, exploration consultant commented, “We have been encouraged by our geological and geophysical work in Djibouti and have identified potentially good quality oil source rocks and also good reservoir potential. This geophysical survey will help to provide a regional understanding of the deposition and sedimentary basins in Djibouti. This is one of the largest of this type of survey in the region and we hope it will greatly assist in our understanding of the hydrocarbon systems and allow us to unlock the potential in Djibouti.” Oyster holds 100% interest in four blocks in Djibouti and is the operator.
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