Black Ridge Mining NL to detect oil presence with unique technology
Date
8/24/2016 1:59:41 AM
(MENAFN- ProactiveInvestors - Australia)
Black Ridge Mining NL (ASX:BRD) could get a major push for its imaging technology from Baraka Energy & Resources Ltd (ASX:BKP), which is considering utilising the technology to detect hydrocarbon presence within oil prospects.
Black Ridge";s Resource Imaging Technology (RIT) is a major advance over original seismoelectric technology and potentially represents the next generation of oil and gas exploration.
Hydrocarbon exploration has historically been expensive with the chance of successful commercial discoveries low due to the inherent uncertainties related to the exploration and interpretation methods.
The imaging technology deployed by Black Ridge is designed to directly detect the presence of hydrocarbons trapped in the subsurface.
This could significantly reduce the uncertainty of discovery and allow for better direction of exploration money.
Black Ridge has exclusively licensed the technology for the Australian and Southeast Asian regions.
Baraka Energy is currently in discussion with Black Ridge regarding a trial survey around existing wells, prospects and leads at Baraka";s EP-127 permit in the Northern Territory.
Adding interest, Black Ridge successfully conducted a field trial at a deep aquifer monitoring borehole provided by the Western Australian Department of Water during the June quarter.
The company will also trial its technology as part of a work program to test the technology";s potential for defining orebodies containing valuable mineral deposits.
Black Ridge is in discussions with service companies and consulting groups to support the roll out of the technology across Australia and the Asia Pacific Region. <
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