Terra Nova Energy Ltd. has successfully completed the shooting of a 127 km2 3D seismic program on Petroleum Exploration License (PEL) 112 in the Cooper Eromanga basin of South Australia. The Corporation has now initiated the processing of this data volume, in preparation for interpretation.

Preliminary results indicate very good seismic data quality in the intervals containing the exploration targets. This data was acquired to both identify new prospects and to mature numerous geological leads previously identified from 2D seismic on this block.

Terra Nova anticipates seismic interpretation to be concluded and drillable locations selected by mid-December. Terra Nova is currently in the process of securing a drilling rig with plans to drill up to six wells in 2013. It is anticipated that drilling of the first well will commence in Q1 2013 on PEL 112, subject to rig availability.

Tags: Terra Nova Energy Ltd.