ON
intends to conduct the exploration program in 3 phases on the Berbice
Block, each phase subject to modification and contingent on positive
results from the prior phase.
Phase
1: Screen for Anomalous Prospects
Surface
geology—Geo-Microbial sampling of up to 8,000 sites
Aeromagnetic
review and/or survey
Gravitimetric
review and/or survey
US$550,000
Phase
2: High-grade Best Prospects
2-D
seismic
US$1,200,000
Phase
3: Drilling
Drill
several targets to increase probability of success and optimize
mobilization costs/well