Ratio Magazine :: The Inside Track to East Africa’s Economies - Press Releases: Centric Energy Announces Results of Kenya Oil Seep Study

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Press Releases: Centric Energy Announces Results of Kenya Oil Seep Study

Wednesday, 25 August 2010

London, 24 August 2010 - Centric Energy Corp. (TSX.V:CTE) is pleased to announce results of an Synthetic Aperture Radar (SAR) oil-seep study of its Block 10BA, northwest Kenya.

As part of its ongoing exploration work in Block 10BA, Centric Energy has purchased sixteen satellite acquired SAR scenes from Fugro NPA Ltd to provide a minimum of three SAR scenes from different dates over all areas of Lake Turkana. Fugro NPA’s experts undertook an interpretation of these data to identify and classify possible surface slicks on Lake Turkana. They categorised the observed slicks as either “Priority Unassigned” slicks, which is an oil slick with an estimated 20% chance of being related to natural oil seepage, or “Unassigned” which is an oil or non-oil slick that has an estimated 10% chance of being related to natural seepage.

The four slicks that were classed as “Priority Unassigned” slicks appeared only on a single satellite scene, but had characteristics that were more likely to be related to natural seepage. In addition, five of the lower confidence “Unassigned” slicks appeared on two or more SAR scenes of different dates; according to Fugro NPA’s experts, this repetition over a period of time increases the likelihood of them being related to natural seepage rather than related to another source. Therefore there are, in total, nine slicks which have a higher likelihood of being related to natural oil seepage from an underground source while still lacking clear characteristics that can confidently relate these slicks to such seepage. Some of the slicks coincide with geological structures observed on seismic data.

There are complementary data on a natural live oil seep which is recorded in an Onshore Seeps Database (source Fugro Data Solutions Ltd., North Wales) as occurring on the north-western shores of Lake Turkana. This seep is described as “Oil indications, close to salt and sulphur springs. Oil indication similar to Albert Rift”. No geochemical analysis of this reported oil seep has yet been located by Centric Energy.

It is important that the interpreted slicks on the lake and the mapped seep on the shore are validated by sampling them in the field and undertaking chemical and geochemical analyses to identify the source of the oil. This work is planned for later in 2010.

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