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3DGeo Receives Hart's 2007 Award for Special Meritorious Engineering Innovation

Posted on: Friday, 16 November 2007, 09:00 CST

3DGeo Inc. (3DGeo) announced today that it received the 2007 Special Meritorious Awards for Engineering Innovation (MEA) from Hart's E&P, a leading oil and gas industry publication. 3DGeo was selected for the award for Imaging Ultra Deep Structures using Wave Equation Migration and Illumination.

"Using 3-D wave-equation migration for seismic imaging is a new approach that has shown great promise imaging the complex deep Gulf of Mexico structures," said Alexander Mihai Popovici, Co-Founder and Chief Technical Officer of 3DGeo. "This technology can be used for oil-and-gas exploration in deep complex structures over 15,000 feet where conventional single travel time arrival Kirchhoff imaging fails to provide an accurate structural image, while wave-equation imaging provides much higher structural resolution and amplitude fidelity. 3DGeo has been one of the pioneers in researching common image angle gathers technology and holds the patent (U.S. 6546339) for using the move-out of the angle gathers for computing the velocity update."

"It is an honor for our technology to be recognized as the best," said Popovici. "The ultra-deep imaging technology has applications to deep structures exploration and delineation. Ultra-deep plays present a significant opportunity for seismic companies because legacy data sets whether proprietary or multi-client fall short technically of what is required to open these new trends." The U.S. Department of the Interior, Minerals Management Service OCS Report MMS 2001-036, assessed that the amount of Undiscovered, Conventionally Recoverable Resources in the deep Gulf of Mexico, is an average of 37 (high estimate of 45) billion barrels of oil, and 193 (high estimate of 207) trillion cubic feet of natural gas. At a conservative average price of $40 per oil barrel and $8 per MCF of gas, that is a value of $1,480 billion for the oil reserves and $1,544 billion for natural gas reserves.

About Hart's Awards for Engineering Innovation in E&P

The Hart's award program honors engineering excellence and achievement in every segment of the global oil and gas industry. It recognizes new products and technologies that offer innovation in concept, design, and application. Winners represent techniques and technologies that are most likely to solve costly problems and improve exploration, drilling, and production efficiency and profitability. Contest judges, including engineers and engineering managers from operating and consulting companies worldwide, choose the winners. Now in its thirty-sixth year, the MEAs are truly the "Oscars" of the petroleum industry, honoring the world's best new tools and techniques for finding, developing and producing hydrocarbons. More information can be found at the Hart's E&P magazine Web site: http://www.eandpnet.com/.

About 3DGeo

3DGeo is a leading provider of advance seismic imaging services and software solutions for the oil and gas industry. 3DGeo helps oil and gas companies visualize 3D earth structures and reduce the drilling risk associated with oil and gas exploration. Companies that use 3DGeo's services lower the cost of production, provide faster delivery of oil and gas to the marketplace, and tap oil and gas from ever more challenging plays. Since its founding in 1994, 3DGeo has accumulated a depth of technical expertise and built a highly focused organization to ensure that promising new technologies and the latest 3D algorithms produce efficient, quick, and robust results.

3DGeo is a privately owned company with offices in Houston, Texas and Santa Clara, California as well as in Brazil and Argentina. 3DGeo also has representation in China and Europe. For more information please visit our website: www.3dgeo.com.

Source: Business Wire

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