The seismic programme is expected to commence in April 2010. The vessel that will acquire the seismic data is the Geo Atlantic, a newly converted 3D/4D seismic vessel capable of deploying 10 streamers and dual sources, each source having a maximum volume of 4500 cu inch.

The objective of the 3D programme is to acquire 3D seismic data over the leads identified from the Klimt 2D survey conducted by OMV in early 2008, including the stacked play Gigantor lead and parts of the Ghidorah and Godzilla leads.

In December 2009, OMV and ENI committed to the drilling of a well in one of WA-362-P, WA-363-P, WA-386-P or WA-387-P. It is likely this well will be drilled in either WA-362-P or WA-363-P. The expectation is for drilling operations to commence in the first half of 2011.

Under the terms of its contractual arrangements with OMV and ENI, Octanex is not required to make any financial contributions to the costs of the 3D seismic survey or the committed well.