( BW)(TX-VANCO-ENERGY) Vanco Announces the Commencement of Offshore
Madagascar 3D Seismic Acquisition Program
Energy Editors/Business Editors
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HOUSTON--(BUSINESS WIRE)--Aug. 26, 2004--Vanco Madagascar Ltd, a
wholly owned subsidiary of Vanco Energy Company, announces that the
Majunga Offshore Profond joint venture group is conducting a
comprehensive 3D seismic acquisition program covering 3,657 square
kilometers of the deepwater portion of the block. Majunga Offshore
Profond is situated offshore northwestern Madagascar and encompasses
approximately 4.4 million acres. The survey will further evaluate the
hydrocarbon potential of the Majunga salt basin. The current 3D
program is designed to identify and evaluate potential drilling
locations for an exploratory drilling program.
The seismic data is being acquired by PGS utilizing its
state-of-the-art vessel, M/V Ramform Challenger. The acquisition
program, which commenced on 31 July, represents the first 3D seismic
ever acquired in East Africa. The Vanco Group is exploring in
Madagascar under a Production Sharing Contract signed with OMNIS, the
national oil and gas company, in March of 2001.
The joint venture group comprises Vanco Madagascar Ltd. (Operator
- 30%), ExxonMobil Exploration and Production Madagascar Majunga Ltd.
(40%) and Norsk Hydro Majunga AS (30%).
Vanco Energy Company is a Houston-based independent oil and gas
company engaged in international exploration and operations. Vanco is
a leading deepwater license holder in offshore Africa with over 20
million net acres offshore Morocco, Cote d'Ivoire, Madagascar, Ghana
and Equatorial Guinea.
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CONTACT: Vanco Energy Company, Houston
Steve Thornton, 713-877-8544