Press Release Stingray Launches FosarFocus System for Targeted Well Zone Monitoring Applications 24 February 2011, Stingray Geophysical Limited, a leader in Seismic Permanent Reservoir Monitoring (PRM) solutions to the upstream oil and gas industry, has announced the launch of the modular, fibre-optic FosarFocus® system to provide operators with a cost-effective and reliable solution to targeted well zone monitoring requirements such as flood front and fracture monitoring. By permanently installing a small, highly sensitive, broadband FosarFocus 4C (multi-component) seismic sensing array on the seabed over the target area, high dynamic range active and passive time-lapse data can be acquired, enabling optimised production and hydrocarbon recovery through improved reservoir management decision making. Caption: Flood front monitoring using a fibre-optic FosarFocus® seismic sensing array Caption: Fracture monitoring using a fibre-optic FosarFocus® seismic sensing array For flood front monitoring applications, a FosarFocus array is installed between injector and producer wells. Frequent repeat seismic surveys provide intra-well reservoir time-lapse signals for dynamic reservoir model updates. These updates provide critical information on the location of the fluid front, pressure distribution and flow barriers or thief zones between injector and producer wells. In addition, time-lapse seismic provides dynamic information that can be used to identify which well zones are producing effectively and when and where remedial action may be required. For fracture monitoring applications, the FosarFocus system is deployed in a cross or star pattern above the zone being stimulated. Micro-seismic events associated with reservoir stimulation and detected by the array are transmitted to a data centre for processing and updating of the reservoir model. By providing the stimulated fracture geometry, azimuth, connectivity and density, micro-seismic monitoring allows optimisation of the hydraulic fracture operation, enabling faster hydrocarbon recovery and lower drilling and completion costs over the life of a field. To facilitate optimal fracture operation planning, an active seismic survey provides pre (and post) stimulation information on the reservoir fracture network and stress field. Stingray Geophysical CEO, Martin Bett, comments: “Real-time data is of great value to oil companies seeking to make production management decisions on, for example, changes to pump pressure or rate, or the proppant mesh or modifications to well and completion design. “By “listening with light” using a FosarFocus system, operators benefit from understanding the location and distribution of fractures during a hydraulic fracturing operation, helping them to better understand actual production mechanisms and enhance recovery rates.” Stingray Geophysical will be participating in the EAGE Workshop on Permanent Reservoir Monitoring Using Seismic Data in Trondheim from 28 February to 3 March, 2011 and is a main sponsor of the event. About Stingray Geophysical Limited Stingray’s sole focus is providing the most advanced permanently installed reservoir monitoring solutions to the global oil and gas industry. Founded in March 2006 to commercialise a unique optical sensing technology for seismic Permanent Reservoir Monitoring (PRM), Stingray enables operators to address all their reservoir monitoring requirements by “listening with light” using FosarFocus®, FosarDeep® and FosarField® sensing arrays to accelerate production and increase their reserves while reducing cost and risk through improved reservoir management strategies. The core technology was originally developed for anti-submarine warfare and security purposes by the UK’s defence research laboratories and is now being exploited for advanced fibre-optic oil and gas seismic sensing applications by Stingray under exclusive licence. Drawing upon a global network of trusted partners and its Folio solutions services offering, Stingray delivers complete, managed, integrated seismic PRM solutions from planning through to processing and answer products. “Stingray”, “Fosar” and “Listening with light” are registered trademarks of Stingray Geophysical Limited. For further information on Stingray Geophysical Limited, visit www.stingraygeo.com About Cody Gate Ventures Cody Gate Ventures invests in businesses to meet the important needs of global corporations and government. What makes Cody Gate Ventures unique is its preferential access to disruptive, government-funded technologies to realize high-value opportunities across a range of sectors. Companies created by the Cody Gate Ventures team in recent years have included sectors such as Mobile Infrastructure, Government Security, Internet Infrastructure and Services, Retail, Renewable Energy, Oil & Gas, Medical Devices, Drug Delivery and Nanotechnology. For further information on Cody Gate Ventures, visit www.codygate.com.