American International Petroleum Corp. retains Wavetech Geophysical for Processing and Interpretation of Seismic Data on its Kazakstan Block.NEW YORK--(BUSINESS WIRE)--Sept. 22, 1997-- Company to Begin Seismic Program Acquisition in November American International Petroleum Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NMS See NetWare Management System. : AIPN AIPN Association of International Petroleum Negotiators AIPN Australian Injury Prevention Network AIPN Advanced Industrial Property Network (Japanese Patent Office) AIPN Asian Industrial Property Network ), today announced that it has contracted Wavetech Geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. Inc. of Denver to provide technical support in the development of the exploration work program under its License No. 953 in the North Uysturt Basin, Kazakstan. Wavetech will provide support for technical analysis in the areas of geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. , geology, and petroleum engineering. The firm will provide highly skilled technical staff to complement the company's local Kazakstan personnel. Seismic data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a and interpretation will also be provided under this agreement. Wavetech was selected because of its experience in CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S and Russian projects supported by its subsidiary office in Moscow, and its ability to provide highly skilled multilingual technical personnel with state of the art exploration and evaluation technology resources. Development of the License database has begun and the initial seismic lines are being reprocessed for orientation of the seismic program and selection of possible drilling sites. The company will mobilize a survey crew in October to begin work to lay out the initial 1250 kilometer seismic program, which is expected to begin by November 1997. Preliminary discussions have been held with potential drilling contractors and work on the first well is now scheduled to begin late first quarter or early second quarter of 1998 depending on rig availability. The above statements are forward-looking and are based on estimates and current expectations. They involve certain risks and uncertainties detailed from time to time in the company's SEC reports. Actual results may differ materially. American International Petroleum Corp. is engaged in oil and natural gas exploration in Kazakstan and refining in Louisiana. CONTACT: Wall Street Associates/Millennium 561/988-2334 |
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