Amalgamated's oil and natural gas detection system proves accurate.DENVER--(BUSINESS WIRE)--Jan. 31, 1997--Amalgamated Explorations (NASDAQ/BB:AXPL) is pleased to announce the results of the first electrotelluric surveys conducted for seven independent oil and gas exploration companies. Fourteen exploration sites were tested and subsequently drilled from March 1996 through October 1996. The survey was 100 percent accurate in determining a dry hole. The survey also determined presence of hydrocarbons hydrocarbons (hīˈ·drō·kärˑ·b  nz),n. with 93 percent accuracy. John Jackson John Jackson may refer to: Politics:
A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Amalgamated a·mal·ga·mate v. a·mal·ga·mat·ed, a·mal·ga·mat·ing, a·mal·ga·mates v.tr. 1. To combine into a unified or integrated whole; unite. See Synonyms at mix. 2. Explorations) said: "Since March of 1996, 14 wells have been drilled by seven clients of MSP Technologies. All 14 were tested with the electrotelluric survey before drilling commenced. Five of the surveys indicated dry holes and nine indicated the presence of hydrocarbons. The five holes predicted to be dry were dry. "Of the nine wells predicted to have hydrocarbons, five were commercial producers and four contained sub-commercial levels of hydrocarbon hydrocarbon (hī'drōkär`bən), any organic compound composed solely of the elements hydrogen and carbon. The hydrocarbons differ both in the total number of carbon and hydrogen atoms in their molecules and in the proportion of hydrogen . Where hydrocarbon anomalies were detected, the survey was 93 percent accurate in determining the production zones at depth. We are accurate to within 200 to 300 feet of mapping the precise depths of hydrocarbons." MSP's electrotelluric survey correctly predicted four out of four wells for Wyman and Associates of Salt Lake City. The president of Wyman and Associates, Richard Wyman, stated: "... it appears we have predicted four out of four correctly ... With these encouraging results, I strongly recommend more surveys of this type be taken prior to drilling. I would not want to drill one of my own wells without first using this instrument." The electrotelluric survey uses the Earth's natural electromagnetic field electromagnetic field Property of space caused by the motion of an electric charge. A stationary charge produces an electric field in the surrounding space. If the charge is moving, a magnetic field is also produced. A changing magnetic field also produces an electric field. to detect oil and gas deposits, disclosing the location of deposits to depths of 17,000 feet. This new patent pending technology is the latest in oil and gas exploration. This technology can detect the actual hydrocarbon through anomalies in ultra-low-frequency electromagnetic waves See spectrum. Electromagnetic wave A disturbance, produced by the acceleration or oscillation of an electric charge, which has the characteristic time and spatial relations associated with progressive wave motion. . The survey can be completed in five minutes, gives instant infield results and is totally non-invasive. Unlike seismic, there is no environmental damage from the survey. For the first time, it is possible to determine whether a property is likely to be commercially productive without the time and expense of drilling a test hole. For more information about Amalgamated Explorations and the electrotelluric survey, visit the company's Web page at http://www.findoil.com or call 888/999-8787. CONTACT: Amalgamated Explorations, Denver Jon Vaux, 888/999-8787 |
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