NEOS GeoSolutions Expands Geoscience Program in Appalachia

  NEOS GeoSolutions Expands Geoscience Program in Appalachia

  Acreage Highgrading & Geo-Hazard Detection Project in Western Pennsylvania

Business Wire

HOUSTON -- April 2, 2013

NEOS GeoSolutions, Inc. today announced that it has secured underwriting to
expand its regional geoscience program in northwestern Pennsylvania. This
airborne-acquired, multi-measurement neoBASIN™ survey covers more than 2,100
square miles, including portions of Warren, Forest, Elk, and McKean (‘WaFEM’)
counties.

The WaFEM neoBASIN project has been designed to support low-impact,
environmentally friendly geophysical data collection using airborne
acquisition methods. NEOS will be acquiring new geophysical datasets –
magnetic, electromagnetic, radiometric, gravity, and hyperspectral – and
integrating these with existing seismic and well information from the area.
Anticipated project deliverables include:

  *Maps of basement topography, intrusives, and key structural and
    stratigraphic horizons;
  *Basement-to-surface maps highlighting major lineaments and regional fault
    networks;
  *2-D cross-sections and regional 3-D structural models of the subsurface;
  *Isopach maps of key reservoir intervals of interest, including the
    Marcellus and Utica (Point Pleasant) shale formations;
  *Regional resistivity voxels from the near-surface down to ~10,000 feet
    subsurface;
  *Hyperspectral images of the surface, including pre-development ‘baseline’
    maps of wetlands, waterways, and naturally occurring oil seeps;
  *Regional ‘sweet spot maps’ depicting the most (and least) prospective
    areas for leasing, drilling, and/or further G&G study and investment.

Carl Kincheloe, Director of Appalachian Programs for NEOS, commented, “We are
excited to be launching our next regional program in Appalachia, backed by the
underwriting support of a long-standing customer. Having proven our ability to
add value to exploration and pre-drill planning activities on four prior
projects in the area, we’ll now be undertaking our fifth project in
Pennsylvania. When this survey is complete, we’ll have nearly 5,000 square
miles of regional data in our Appalachian library. Our reliance on airborne
platforms for geophysical data acquisition enables us to offer
basement-to-surface insights over large areas in a timely, cost-effective
manner and with no disturbance to the environment. We hope to provide E&P
operators who license this data with an enhanced ability to target any future
geophysical investigations and exploration activities on the most prospective
areas for hydrocarbon development and, in the process, to conduct these
operations with the utmost regard for the environment.”

The WaFEM neoBASIN survey is being executed under a multi-client commercial
model. Final results should be available to project underwriters during the
fourth quarter of 2013.

To learn more about NEOS’s projects in Appalachia, visit the dedicated Global
Programs page on the company’s website: tinyURL.com/NEOSinAppalachia.

About NEOS GeoSolutions

NEOS helps exploration teams in the onshore oil & gas and mining industries
make faster, more informed decisions about where to explore, lease and drill.
In partnership with its clients, NEOS acquires and simultaneously interprets
multiple geological, geophysical, and geochemical datasets to identify
hydrocarbons and minerals in the subsurface. The company is backed by a group
of internationally recognized investors, including Bill Gates, Energy Capital
Group, Goldman Sachs, Kleiner Perkins Caufield & Byers, and Passport Capital.
For more information, visit www.neosgeo.com.

Contact:

NEOS GeoSolutions
Media Interests:
Courtney Ford (Corporate Marketing)
+1-925-738-2168
or
Commercial Interests:
Carl Kincheloe (Director, Appalachian Programs)
+1-713-425-0503
 
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