Bridgewater

Osprey Energy, headquartered in Bridgewater, NS, has begun an extensive onshore seismic program to locate potential oil and gas deposits north of Truro, NS. Osprey and its joint venture partner will conduct a month-long program over an 80-mile stretch from Debert to Parrsboro, part of the Maritime Basin, with the primary target the 70 kilometers of seismic lines in the Pennsylvanian Parrsboro formation. Early indications are that the region has potential reserves of up to 75 MMbbl and 345 Bcf. The area to be covered includes the Lower Parrsboro formation, which is about 850 meters thick, consisting of sandstone and shale. The Upper Parrsboro is about 1,800 meters thick and is similar to the Lower Parrsboro. The seismic program is gathering 6,000% fold vibroseismic data, which has been contracted to Kinetex Inc. The data will be analysed to create a subsurface geological profile, which will be integrated with surface geological data gathered over several years by the Geological Survey of Canada and the Nova Scotia Department of Natural Resources.