Earth Search Sciences Inc. and Phoenix GeoExploration Inc. Sign Agreement to Explore 800,000 Acres of Potential Major Hydrocarb
June 14 2006 - 9:00AM
Business Wire
Earth Search Sciences, Inc. (OTCBB:ESSE) announced today the
signing of a Letter of Intent with Phoenix GeoExploration Inc. to
undertake airborne hyperspectral mapping over their SW Williston
Basin Project, an area close to major oil discoveries. The LOI is
based on Earth Search receiving a royalty in exchange for providing
the hyperspectral survey. The objectives of the hyperspectral
survey are to look for oil seeps or alteration chimneys arising
from leakage of hydrocarbons from oilfields associated with
dolomitization (and increased porosity) in the Red River "B" and
"C" horizons - which have hosted the nearby 200 million barrel
Cedar Hills Field, the 40 million barrel Buffalo Field, the
Medicine Pole Hills Field, the Horse Creek Field, and the Horse
Creek South Field. Larry Vance, CEO of Earth Search Sciences,
stated, "The PROBE-1 hyperspectral instrument has proven its
capability in surface exploration for signs of oil. There are a
number of things our airborne data collection highlights, including
being able to quickly map the geology of outcrop lithology and
surface structure along with any seepages to identify good
potential hydrocarbon prospects." President of Phoenix
GeoExploration Inc., Dr. Bill Pelton, said, "The acreage we have
rights for, is on trend with the excellent discoveries in
contiguous properties. They share the same Ordovician carbonates
and we believe the hyperspectral imagery may help identify key
exploration targets." See the Earth Search website:
http://www.earthsearch.com/ and the new Petro Probe, Inc. website,
Earth Search's subsidiary oil & gas company, at
http://www.petroprobe.com for more information on the hyperspectral
technology. For more information on the exploration targets, see
http://www.phxgeo.com This news release includes forward-looking
statements that involve a number of risks and uncertainties. The
information reflects numerous assumptions as to industry
performance, general business and economic conditions, regulatory
and legal requirements, taxes and other matters, many of which are
beyond the control of the company. Similarly, this information
assumes certain future business decisions that are subject to
change. There can be no assurance that the results predicted here
will be realized. Actual results may vary from those represented,
and those variations may be material.
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