Perth, May 12, 2008 (ABN Newswire) - SAPEX Limited (ASX: SXP) advises that recording of seismic data commenced on 10 May 2008.
The survey is being carried out by the contractor, Terrex Seismic, and will total up to 484 line kilometres and is expected to be completed in approximately 6 weeks.
Line clearing is expected to be completed within the next week while the survey pegging is progressing well ahead of the recording crew.
The Boorthanna 2008 seismic survey is the most detailed oil and gas exploration activity to be undertaken in some 25 years on South Australia's Arckaringa Basin. Approximately half of the total will be a detailed survey over several leads and prospects, with the remainder being a regional survey aimed at seeking the southern extension of the Boorthanna Trough.
It is the intent to drill two petroleum exploration wells about the end of the current calendar year with the actual location of these wells to be selected from the results of this survey. The Directors are considering various options for the funding of the proposed drilling program.
About LINC ENERGY LTD
Linc Energy is an innovative, forward thinking energy company and Australia's leader in clean coal technology. The company's vision is to become a dominant player in the supply of more environmentally friendly power, diesel and jet fuel.
Linc Energy aims to achieve this vision by bringing together, for the first time anywhere in the world, two proven production processes known as Underground Coal Gasification (UCG) clean coal technology and Gas to Liquids (GTL).
These processes will economically convert vast "stranded" coal deposits into ultra clean liquid fuels.
Linc Energy will also use the Syngas produced from UCG clean coal technology as feedstock for gas turbines to generate much needed environmentally friendly electricity.
The company has a unique leading edge capacity to provide a viable, more sustainable and smart alternative source of liquid fuels and power generation well into the foreseeable future.
Linc Energy represents a new future for liquid fuels production and power generation.
Contact
Andrew J Andrejewskis Managing Director Tel: +61-8-8331-9661 Email: info@sapex.com.au
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