too risky for me in front of drill results., page-32

2d & 3d seismic Seismic
Two dimensional (2D) seismic surveys were
recorded in PEL 102 (155 km) and in PEL 113
(200 km) as well as the Worrior 3D seismic survey
which defined the Worrior field and the Arwon
Prospect across the PEL 93 /113 boundary.
The 2D surveys were recorded to define
additional oil and gas prospects while at
the same time meeting guaranteed licence
conditions.
The Worrior 3D of 52km2 was used to locate the
Worrior #2 development well and to provide a
location for the Arwon #1 exploration well. Oil
and gas in place estimates in Worrior were
upgraded using the post 3D structure mapping.
Pre-drill estimates of potential oil and gas in
Arwon were similarly upgraded.
Drilling locations for Saintly #1, Harpoono #1
and Jezabeel #1 were defined by the Priscilla
Survey recorded in PEL 113. Mapping of seismic
has been competed in PEL 90 and PEL 102 and
is ongoing in PEL 93 and PEL 113. The objective
of mapping in PEL 113 is to identify all
prospects and leads which are drillable or
require more seismic detailing.
The prospects are being evaluated using
probabilistic and deterministic methods to
expand the Company’s prospects and leads
data base as well as to determine the total
resource potential of Stuart’s land holdings.
During 2004, Stuart will record two 2D seismic
surveys to further define prospects in PEL 90 and
PEL 113. The results will be used to further
update the potential in place resources of oil
and gas prospects.
As the Company becomes more successful in
discovering oil and gas across the Cooper Basin,
3D seismic will likely become more important
as a tool to assist in identifying and targeting
follow up opportunity. 3D seismic remains a
superior method of imaging the subsurface
strata and will add value to the business.

GOOD LUCK ALL STUers :)