Rock Solid Images Wins $1.1M Project

Rock Solid Images (LSE:RSI) released a statement Wednesday morning announcing a successful bid for a $1.1 million project awarded by a South East Asia national oil company prompting shares of this AIM-listed company to rise 55.6% at the close of the day’s trading to 1.75P with a total volume of 3,069,004. [2]

Overview
According to the press release, RSI is to immediately start re-processing and integrating seismic, controlled source electromagnetic (CSEM), and well data of the unnamed Southeast Asia national oil company to be completed within four months. In line with this development, a new Vice President was named for the company’s WISE Products and Services, Dr. James Tomlinson.

WISE™ Technology
The Well Integration with Seismic and Electromagnetics or WISE™ approach is an integrated interpretation of well logs, seismic information, and CSEM data used in analysing the structure and properties of the earth. [4] A WISE™ consortium consisting of the UKDepartment of Energy and Climate Change (DECC), Chevron, Det Norske, Maersk Oil & Gas, Total, and DONG Energy organised a three-year project focused on joint interpretation, rock physics, and risk reduction with the goal of improving reservoir characterisation.

New Vice President
RSI also announced on the same release that Dr. James Tomlinson will assume as the new Vice President for the company’s WISE™ Products and Services. Dr. Tomlinson was Area Geophysicist of OHM, now part of EMGS, for its Asia Pacific operation.

CEO Statements
Richard Cooper, Chief Executive Officer of RSI expressed positive view over the appointment. He stated:

”We are also very pleased to welcome Dr. James Tomlinson to the team at RSI. Dr. Tomlinson has a strong background in electromagnetics having previously worked for OHM and emgs. He shares our passion for data integration and we look forward to working with him to help drive CSEM adoption from both a service and technology perspective.”

As for the project, he commented:

“We are extremely pleased to be selected to perform this project to re-process and integrate seismic, CSEM and well data. Our WISE products and services are unique in the upstream oil and gas industry. WISE provides our clients with a powerful de-risking tool, which combines the strengths of seismic, well and CSEM data within a unified interpretation environment.”

Company Spotlight
Rock Solid Images, is an AIM-listed geoscience consulting firm established in 1998 delivering quantitative reservoir characterisation services to more than 250 clients across the globe. Prior to this project, RSI was also awarded two reservoir characterisation projects valued at $0.8 million in 13 December 2011 by the company’s existing clients.

References
↑ Company profile
↑ Rock Solid Images WISE™ Reprocessing Project and Appointment of New VP
↑ WISE™ Technology
↑ WISE™ Consortium
↑ About OHM

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