Baraka completes 3D seismic survey in Colombia

Australian Oil & Gas Exploration and Production Company Baraka Petroleum Limited in conjunction with its Joint Venture partners says that acquisition of the 3D seismic survey over the La Punta Block in Colombia has been completed. The survey was undertaken by Compañia Geofisica Latinoamericana (CGL), an established Colombian company that specialises in the acquisition and processing of seismic data.

The survey is currently being processed as planned, with interpretation scheduled to follow in mid to late January. Baraka staff, with support from established Australian consultants and its Joint Venture partners, will use the results of the survey to finalise plans for the La Punta-2 development well which is on track for spudding in early March 2008. The seismic survey will also be used to high-grade further exploration opportunities in the La Punta block.

Baraka funded the joint venture partners for the US$1.3 million seismic survey as part of its entry commitments to the La Punta project.