Westbridge Reprocesses Lavaca 3D and Increases Total Number of Prospects
03 April 2014 - 10:37PM
Marketwired
Westbridge Reprocesses Lavaca 3D and Increases Total Number of
Prospects
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 3, 2014) -
Westbridge Energy Corporation
(TSX-VENTURE:WEB)(PINKSHEETS:WEGYF)(FRANKFURT:PUQ1) ("Westbridge"
or the "Company") alongside Black Pearl Holdings, LLC ("Black
Pearl") is pleased to announce the completion of the initial
reprocessing of 62 square miles of the 85 square mile 3D seismic
dataset ("3D Seismic") in the Lavaca County Project, Lavaca County,
Texas. Upon initial analysis of the reprocessed 3D Seismic,
Westbridge and Black Pearl have increased the total number of
seismically defined drillable prospects from 7 to 12 and decreased
the total land requirement by identifying the most prospective
acreage. Westbridge and Black Pearl believe that final reprocessing
of the entire 3D dataset will yield over 50 leads and prospects,
which evidences the scalability of this project.
Mr. Tosan Omatsola, President and CEO of Westbridge, comments:
"Westbridge and Black Pearl are very pleased with the results of
the reprocessing of the 3D Seismic. The reprocessing of this data
has resulted in a 71% increase in the number of seismically defined
drillable prospects and demonstrates the scale potential of the
Lavaca County Project. We now move forward with completing the
Spectral Blueing and sourcing additional partners to partake in the
exploration and development of the prospects."
The reprocessing of the data has also further affirmed the
trapping geometry and structure of the prospects. This allows for
the optimal placement of wells. Notable analog fields to the
prospects include Kinkler Field (historic production of 1.5 MMB of
oil and 13.1 BCF of gas), Valentine Field (historic production of
1.1 MMB of oil and 4.8 BCF of gas), Menking Field (historic
production of 332 MB of oil and 424 MMCF of gas) and Dubina Field
(historic production of 2.7 MMB of oil and 7.0 BCF of gas).
Westbridge and Black Pearl will now proceed with applying
Spectral Blueing, a special filtering technique to the reprocessed
data. Initially developed by BP in the 1980's, Spectral Blueing
sections are typically easier to interpret and reveal more
information about the subsurface, including small scale faulting
and channels. Additional prospects are expected to be generated
from the Spectrally Blued dataset.
For additional information, readers are invited to review
additional corporate and property information available at
Westbridge's website at: www.westbridgeweb.com
On behalf of Westbridge Energy Corporation,
Tosan Omatsola, President and Chief Executive Officer
Darren Collins, Vice President, Business Development
Neither 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 release.
Forward-Looking Statements
This news release contains "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward looking information" within the
meaning of the British Columbia Securities Act, the Alberta
Securities Act and the Ontario Securities Act. Generally, the words
"expect", "intend", "estimate", "will" and similar expressions
identify forward-looking information. By their very nature,
forward-looking statements are subject to known and unknown risks
and uncertainties that may cause our actual results, performance or
achievements, or that of our industry, to differ materially from
those expressed or implied in any of our forward looking
information. Statements in this press release regarding
Westbridge's business or proposed business, which are not
historical facts, are forward-looking information that involve
risks and uncertainties, such as estimates and statements that
describe Westbridge's future plans, objectives or goals, including
words to the effect that Westbridge or management expects a stated
condition or result to occur. Since forward-looking statements
address events and conditions, by their very nature, they involve
inherent risks and uncertainties. Actual results in each case could
differ materially from those currently anticipated in such
statements. Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date they
are made. All of the Company's Canadian public disclosure filings
may be accessed via www.sedar.com and readers are urged to review
these materials, including the technical reports filed with respect
to the Company's oil and gas properties. The foregoing commentary
is based on the beliefs, expectations and opinions of management on
the date the statements are made. The Company disclaims any
intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events
or otherwise.
Westbridge Energy CorporationTosan OmatsolaPresident and Chief
Executive Officer+1 604 638
9378tomatsola@westbridgeweb.comWestbridge Energy CorporationDarren
CollinsVice President, Business Development+1 604 638
9378dcollins@westbridgeweb.comwww.westbridgeweb.com
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