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CONTRACT PRICING OF GREENFIELD/MATURE FIELD SURVEYS, MINI-SURVEYS AND EXCLUSIVE/NON-EXCLUSIVE SURVEYS

PRICING OF GREENFIELD/MATURE FIELD SURVEYS

The price per sample for projects in Western Canada is negotiable and is based mainly on such factors as location, ease of access, topography and time of year. Expenses for travel, lodging and meals are extra, usually amounting to about 10 percent of the contract price. The fixed price per sample includes lab analyses, contour maps and interpretive report. It also includes the search and location of oil seeps, which are important for interpretation. There are no hidden expenses so the client can ascertain his total cost before the project begins.

Petro-Find welcomes proposals for overseas projects, especially for large blocks in frontier areas. One approach is to establish anomalous trends by a reconnaissance survey followed by a higher density survey to further define the aerial extent and configuration of the anomalies. Only areas with the highest potential should be followed up with seismic and drilling. The price per sample for overseas projects is negotiable. Expenses for travel, lodging and meals are extra. Assistance in the field with a vehicle and an interpreter/guide may be required as well.

Petro-Find Geochem Ltd is partnered with Frank & Chimo Partners Inc. of the United Arab Emirates (UAE) to undertake oil and gas exploration projects in the Middle East, C.I.S. and Asia Pacific. All soil gas samples are shipped to Petro-Find's laboratory in Saskatoon for chemical analysis until a full service laboratory is established in Dubai, UAE sometime in the Fall of 2014. Petro-Find can ship vial samples internationally because they contain soil gases without leakage for a period of at least five weeks. All enqiries about Petro-Find geochemical surveys for oil and gas in those regions should be directed to ali@frank-chimo.com (Ali Akbar, Director, Frank & Chimo Partners).

For optimum reduction of risks, Petro-Find recommends that soil gas surveys be conducted before any seismic because its method: is far less expensive; is a direct indicator of the existence of hydrocarbons at depth; and can reduce seismic costs (i.e. fewer and shorter transects with less line-cutting) by focussing only on anomalous trends. However, if seismic has already done the correlation of geochemical hydrocarbon anomalies with seismic structure leads to substantially better drill results with lower risks.

cost of soil gas surveys are modest in terms of benefits

Petro-Find also conducts both Subscription and Non-Exclusive multiclient surveys. The pricing for an Exclusive or Subscription Multiclient survey is established before a project begins while the pricing for Non-Exclusive (Speculative) Multiclient survey data is set after a project is completed.

A MINI-SURVEY TO REDUCE THE RISK OF WELL DRILLING

Mini-surveys are conducted only in Western Canada within one day's travel from Saskatoon. Planning to drill? You may have seismic structures but do they contain hydrocarbons? Petro-Find's new, remarkable, low-cost mini-survey program can reduce risk substantially by predicting the outcome of a well before drilling in terms of whether it will be dry, marginal or productive and whether it will be gas, condensate or oil. A company may wish to evaluate and rank its inventory of drill prospects by mini-surveys. Although soil gas surveys when combined with seismic do not remove all exploration risk, they improve success rates substantially and productive wells will more often be in optimal locations.

The mini-survey is conducted at the exact well location and the immediate surrounding area before spudding, preferably before the surface soil is removed. The well could be an offset, infill or wildcat. A mini-survey is more cost-effective if it is conducted before the drilling contract is let and even prior to the permitting process and legal survey. This is mainly because the company may not want to drill if the mini-survey predicts unfavourable results. Also, a prediction that the well will find gas instead of oil, given the current market conditions, may provide an additional reason not to drill.

The price per sample for mini-surveys is negotiable. Expenses for travel, lodging and meals are extra, usually amounting to about 10 percent of the contract price. There are no hidden costs.

The deliverables include:

PRICING OF EXCLUSIVE (SUBSCRIPTION) MULTICLIENT SURVEYS

The price for an Exclusive Multiclient Survey is set on the basis of the size of a project and the number of companies participating. Exploration companies will be solicited either by advertising or directly for their participation. A project will commence once it is fully subscribed. Also, Petro-Find is open to proposals by groups of exploration companies to conduct this type of survey.

The surveys can be either reconnaissance or high-density, depending on the needs of the client. Normally, for gridded areas sample spacing is every half mile (169 samples per Township of 36 square miles). The number of sampling points per Township is less for a block of contiguous townships because of shared sampling lines. For forested areas where forestry roads/paths or seismic lines are available, samples are usually taken every 400 meters.

The data includes:

PRICING OF NON-EXCLUSIVE MULTICLIENT SURVEYS

Petro-Find conducts non-exclusive surveys on a limited basis. Such surveys are usually of the reconnaissance type (sampling points 1/2-mile to one-mile apart). The data is licenced on a Township basis (i.e. 36 square miles). Outputs would include a georeferenced base map, contoured overlays for methane and C2+ (i.e. total C2-C4) and an interpretive report.


PETRO-FIND GEOCHEM LTD

215 Mallin Crescent
Saskatoon, Saskatchewan, Canada S7K 7X3
Contact: Paul Lafleur, President
View Paul Lafleur's profile on LinkedIn
Phone: (306)931-3156 Fax: (306)931-9773
E-Mail: plafleur@sasktel.net