Singapore / ACCESSWIRE / November 21, 2014 / Terra Nova Energy Ltd. (the "Company" or "Terra Nova") (TSX-V: TGC; OTCQX: TNVMF) is pleased to announce that it has completed the interpretation of the reprocessed Wingman 3D seismic survey from which eight prospective geological features have been recognized that appear suitable for drilling exploratory wells. The Wingman 3D covers 84 sq km within the Petroleum Exploration License ("PEL") 444 block located on the western flank of the Cooper/Eromanga Basins in the State of South Australia, Australia. The geological prospects were recognized using advanced geophysical techniques and are interpreted to have analogous characteristics to those of the adjacent producing Charo field. Terra Nova is in the process of acquiring the required approvals and operational permits in support of an upcoming drilling campaign.
"We are pleased that we have identified eight drilling locations following the ranking and risking of multiple targets in the Birkhead, Namur and Hutton areas" said Terra Nova Energy CEO and Chairman Henry Aldorf. "We are fortunate to own acreage in the Cooper/Eromanga Basins, where oil production costs have been low compared to other parts of the world, offering a significant advantage at today's oil prices. We are looking forward to the upcoming drilling campaign."
Terra Nova has also commenced the reprocessing of PEL 112's Mulka 3D seismic survey by employing similar techniques that were used in the seismic reprocessing of PEL 444.
Terra Nova will release further updates in due course.
