CDS Cds Oil & Gas

    RNS Number : 7877U
  CDS Oil & Gas Group PLC
  19 May 2008
   


126 Brompton Road
London, United Kingdom
SW3 1JD
E-mail: info@cds.com.py
Web Site: www.cdsogg.com
    NEWS RELEASE  


    For release: Monday, May 19, 2008

    CDS OIL & GAS GROUP PLC 

    RESULTS OF AEROMAGNETIC & AEROGRAVITY SURVEY PROGRAMME DEFINE ADDITIONAL TARGET AREAS IN PARAGUAY

    LONDON, England: 19 May 2008 - CDS Oil & Gas Group plc ("CDS" or the "Company"), the AIM-quoted oil and gas explorer (CDS.L), has
received positive results from its aeromagnetic and aerogravity survey programme on its oil and gas exploration project in Paraguay, with
additional target areas being defined for follow up. Drilling is expected to commence later this year, subject to rig availability.

    During the period from 15 October 2007 to 5 December 2007 Carson Aerogravity, a division of Carson Helicopters Inc., flew a 9,423km line
airborne gravity and a 12,100km airborne magnetic survey simultaneously over the Gabino Mendoza, PG & E and Boqueron Blocks in Northwestern
Paraguay for CDS Energy S.A. Data was collected at a survey speed of 100 knots using a De Havilland DHC-6 Twin Otter aircraft. Newly flown
data was encrypted and downloaded daily to Carson's processing center in Perkasie, Pennsylvania, to provide constant monitoring of data
quality and field system performance. The gravity and magnetic data was processed, analyzed and interpreted by Carson's staff using
proprietary software. 

    The study successfully combined gravity, magnetic, seismic, well and geological data to map major structural highs, lows, trends,
faults, and other structural elements within the three blocks.

    This gravity and magnetic interpretation defined several structural highs that need to be highlighted by additional exploration tools
(for example seismic and geochemical surveys). The thickness of the sedimentary Quaternary-Carboniferous sequences appears to decrease
towards the eastern part of the surveyed area where Devonian and older rocks outcrop. Gravity-magnetic modelling along the selected profiles
in the surveyed area demonstrates the possibility of structural highs within the sedimentary sequences present in this portion of the
sub-Andean foreland basin in Paraguay. The tectonic style is predominately extensional with clearly interpreted high angle normal faults.
The main northwest-southeast striking normal faults have been intersected by younger northeast-southwest trending faults, which are
interpreted based on the axes of the main constrained residual gravity anomalies.

    Patrice Roman, CEO of CDS stated: "The Carson survey has added significant new information to our extensive data base and has defined
additional targets for seismic and drilling follow up. We are encouraged by these positive results which confirm and improve our geological
model, and intend to test the additional areas of interest as recommended by Carson. The new data will be important when selecting drill
sites for a drilling campaign planned to commence later this year, based upon rig availability." 

    Professor Deborah Ajakaiye, Head of our Technical division in Houston, graduated with an honors degree in Physics from the University of
London and a Masters degree in Applied Geophysics from the University of Birmingham, with a Ph.D from Ahmadu Bello University, Member of the
American Association of Petroleum Geologists and internationally known among others for her works and publications in the field of seismic
and sequence stratigraphy, geodynamic and tectonic studies and geophysical prospecting has expressed her satisfaction to the conclusions of
this report and endorsed the technical information contained in this announcement.

    CDS is a UK company which, through its Paraguayan subsidiary, CDS Energy S.A., has a 98.1% working interest in three large blocks with
substantial oil and gas exploration potential in the prospective eastward extension into north-west Paraguay of the productive Bolivian
Chaco Basin. 

    For further information:

    CDS Oil & Gas Group Tel: +41 22 700 68 60
    Patrice Roman, Chief Executive Officer

    Hanson Westhouse Tel: 0+44 (0)20 7601 6100
    Louis Castro 

    Hudson Sandler Tel: +44 (0)20 7796 4133
    Jessica Rouleau / Sandrine Gallien / Fran Read

    B4 Communication Tel: +41 22 592 50 22
    Claude Baumann / Fréric Jacquemoud

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
DRLGUUPAAUPRGWB

CDS Oil & Gas (LSE:CDS)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

CDS Oil & Gas (LSE:CDS)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024