Geoscience BC

Geoscience BC

June 17, 2009 12:00 ET

Geoscience BC: New Seismic Reflection Data for the Nechako Basin, British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2009) - Geoscience BC is pleased to announce the release of new seismic reflection data for the northern Nechako Basin west of Quesnel, British Columbia. This $2.5 million survey, completed in 2008, acquired 330 line-kilometers of new seismic reflection data that will assist in determining the hydrocarbon potential of central British Columbia.

"These new survey results, funded by the Province of B.C., are a key piece of the data needed to evaluate the petroleum resource potential of the region," said Blair Lekstrom, Minister of Energy, Mines and Petroleum Resources. "The BC Energy Plan states that government would establish new data to make that possible. Today's announcement brings us that much closer to bringing new jobs and responsible resource development to the Nechako Region."

The survey, funded with $2 million from Geoscience BC and $0.5 million from the Northern Development Initiative Trust, is the first seismic work to be carried out in the area since Canadian Hunter collected approximately 1300 km the early 1980s. Although 5 wells were drilled in the Nechako Basin to follow-up on the Canadian Hunter seismic program, hydrocarbon exploration in the region ceased soon after.

The Geoscience BC survey was designed to improve upon and add to the Canadian Hunter survey, particularly to see through the young volcanic rocks which cover much of the Nechako Basin. Results from all seven lines are now available from Geoscience BC's website, and include both data (structure stack and migration files in SEGY format) and images.

"The hydrocarbon potential of the Nechako Basin is not currently well understood," said 'Lyn Anglin, President and CEO of Geoscience BC. "We believe that these types of regional geoscience projects are key to further developing our knowledge of the basin, which in turn will help attract industry interest to the region."

This seismic survey is a major component of Geoscience BC's interior basins oil and gas geoscience program, which was initiated in April 2005 with a $5 million grant to Geoscience BC from the Provincial government. The survey complements ongoing seismic monitoring, geophysical and geological studies of the Nechako Basin being supported by Geoscience BC in partnership with Simon Fraser University, University of British Columbia, BC Ministry of Energy Mines and Petroleum Resources, and Natural Resources Canada.

"The Nechako Basin is in the heart of British Columbia's Mountain Pine Beetle infestation," noted Janine North, Chief Executive Officer of the Northern Development Initiative Trust. "This kind of geoscience information will provide new opportunities for community economic diversification and industry exploration."

Geoscience BC is an industry-led, industry-focused not-for-profit society. Its mandate includes the collection, interpretation and marketing of geoscience data and expertise to promote investment in resource exploration and development in British Columbia. Geoscience BC is funded through grants from the Provincial Government and works in partnership with industry, academia, government, First Nations and communities to attract mineral and oil & gas investment to BC. For more information, please see Geoscience BC's webbsite at www.geosciencebc.com.

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