Oyster Oil and Gas Ltd.
TSX VENTURE : OY

October 09, 2013 09:30 ET

Oyster Oil Commences Onshore Geophysical Survey in Djibouti

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 9, 2013) - Oyster Oil & Gas Ltd. ("Oyster") (TSX VENTURE:OY) is pleased to announce the commencement of an onshore geophysical survey ("Survey") in the Republic of Djibouti. The Survey is a regional geophysical program covering some 450kms located in the onshore Blocks 1, 2 & 4.

Oyster has 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 end of 2013.

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 the Republic of Djibouti and is the Operator.

About Oyster Oil and Gas Ltd.

Oyster is an oil and gas exploration company with a focus on eastern Africa. Oyster operates four blocks onshore and offshore in the Republic of Djibouti; the blocks covering some 3.5 million acres. Oyster recently announced that it has acquired a 10% working interest in an onshore block in Madagascar covering some 3.7 million acres; and it also has the option to acquire an interest in a property located in British Columbia, Canada.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Martin Bajic
    Chief Financial Officer
    (604) 628-5621
    (604) 662-7950 (FAX)