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Permalink Reply by The_Baron on November 4, 2008 at 9:43

Many time the sesmic co. is working for a client. The client pays for some or all of the cost. Depending on the deal with the client the information could be sold to other companies at a later date. Some companies may pay a premium price to have the data become their intelectual property, while others may pay a lower price for a couple of years of exclusivity, after which the information could be sold on the open market.

The job may be a spec job, meaning the seismic company is hoping to aquire the data and sell it later, but this rarely happens onshore.

In any case, the data is not reported to the state (in LA) and is not public record.

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Permalink Reply by keb on November 4, 2008 at 11:10

Baron, thanks so much for the speedy response; it really gave me some great info. and cleared our understanding about the process. Keep up the good work! Your opinion is always valued.

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Permalink Reply by keb on November 5, 2008 at 15:47

Thanks Jim, do I understand that condemn means...hold onto it so other companies can't do any testing until end of the term? and that I wouldn't be given a copy of the data because the client owns it who paid? The company, PGS Onshore, Inc. is testing on behalf of Buesa Energy Inc. Heard of them? Sorry if this sounds silly...just a simplistic layman, LOL

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Permalink Reply by keb on November 5, 2008 at 17:44

thanks Jim. I'm learning.

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Permalink Reply by The_Baron on November 6, 2008 at 4:40

YOu never know, it could work the other way. You may be sitting a mountain of gas!

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Permalink Reply by keb on November 6, 2008 at 5:03

BARON ,YOU THINK i SHOULD GO AHEAD AND LET THEM TEST?HAVE YOU HEARD OF BUESA ENERGY? THEY HAVE ANY WELLS IN SECTION 5, T13N, R15W DESOTO PARISH, KEATCHI(E)?

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Permalink Reply by The_Baron on November 7, 2008 at 5:29

They will just go around you if you don't let them. Besides seismic data is not the holy grail in geology. I just sat on a well in arkansas that the seismic said we had a monster prospect. Wrong, looks like we will have to P&A.

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