SOURCE: Signal Hill Petroleum

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December 02, 2014 09:59 ET

Signal Hill Petroleum Successfully Conducts 1st Aerial Gravity Gradiometry Survey of Los Angeles Basin

SIGNAL HILL, CA--(Marketwired - December 02, 2014) - Signal Hill Petroleum, Inc. (SHP) recently completed the first airborne Full Tensor Gravity Gradiometry (FTG) survey of the Los Angeles Basin. The California based energy company -- which specializes in urban oil and gas production and exploration -- acquired more than 2900-line miles of airborne survey data that will offer the most accurate available images of the entire basin's subsurface.

The Los Angeles Basin contains one of the highest concentrations of crude oil in the world with known reserves estimated to be between 1.4 and 5.6 billion barrels. Highly developed and densely populated, mapping and extracting the LA Basin's reserves has been logistically challenging. However, the non-invasive nature of the FTG survey allowed Signal Hill Petroleum to better understand the density of the basin's subsurface with no impact upon the urban area.

Signal Hill Petroleum contracted Bell Geospace, the leading provider of gravity gradiometry, to acquire the (FTG) data.

"Signal Hill Petroleum has worked hard and invested heavily to be a leader in oil and gas exploration in dense urban environments. Given the challenges of any data acquisition in densely populated regions, the safe operations and data quality provided by Bell Geospace have been excellent. We are confident that this cutting edge technology will be central to new exploration opportunities in the Los Angeles Basin," commented David Slater, Executive Vice President and Chief Operating Officer of Signal Hill Petroleum.

The survey pilots followed pre-programmed flight lines at an altitude of 1000 ft. To avoid high traffic within the survey's airspace, flight operations were limited to the hours of 11:00 PM to 6:00 AM. In total, data was collected over a span of eight days.

"Bell Geospace is proud to be involved with a survey over the 2nd most populous city in the United States; helping Signal Hill Petroleum with their commitment to explore for oil & gas in urban areas," said Scott Hammond, CEO, Bell Geospace. "Our operations crew worked closely with Los Angeles Air Traffic Control to acquire this sophisticated gravity survey safely and efficiently."

Signal Hill Petroleum plans to integrate the new data sets with the company's existing 2D and 3D seismic data to provide a more comprehensive understanding of the region's geology and to engage in more targeted oil and gas exploration.

About Signal Hill Petroleum

Signal Hill Petroleum is a privately owned California-based energy company that specializes in the exploration, development and production of crude oil and natural gas in urban areas. Signal Hill Petroleum operates the majority of the wells in the Long Beach oil field, and is actively exploring the Los Angeles Basin for new oil.

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