IRES-GEO TECHNOLOGY AND STINGRAY GEOPHYSICAL PARTNER FOR FASTER, CHEAPER 4D SOLUTIONS

Edinburgh, August 3st, 2017 – Edinburgh-based iRes-Geo Technology and global Stingray Geophysical are pleased to announce a new partnership aimed to offer better 4D solutions to meet the industry’s increasing reservoir monitoring needs.

By joining iRes-Geo’s team of world’s foremost experts with Stingray’s unique fiber optic Permanent Reservoir Monitoring System, the partnership will provide the frame for faster and cheaper acquisition of high-quality 4D seismic data, as well as efficient value extraction from 4D seismic data.

“It’s a very dynamic industry and improved cutting-edge solutions for the 4D technologies is key in today’s Digital Oilfield strategy. Partnering with Stingray’s unique technology is an incredible opportunity to provide the solutions that are truly valuable to the industry globally in the low oil price era, as well as for reservoir management or placement of in-fill wells”, said Jim Farrington, SVP, Business Manager at iRes-Geo Technology Ltd.

“Monitoring is the way forward, breathing life into existing reservoirs, allowing a fresh look at bypassed oil and fluid movements. Even a small improvement dramatically increases reserves and increasing profitability. iRes-Geo’s expertise will definitely highly impact our joint solution and I am confident that together we will
provide the best context for informed decision making”, said David Cox, CEO at Stingray Geophysical.

Effective immediately, the partnership is designed to facilitate increased production and recoverable reserves at lower cost and risk over the life of a field, through data-driven reservoir management strategies.

About iRes-Geo Technology Ltd.
A 4D Seismic Consulting team comprised of some of the world’s foremost experts in the field, iRes-Geo offers a wide range of cutting-edge 4D seismic solutions, from Training and Technology Transfer, 4D Feasibility and Strategic Planning, to proprietary 4D Technologies that greatly increase the interpretability of the 4D signal.

About Stingray Geophysical
Stingray Geophysical manufactures and implements fiber optic Permeant Reservoir Monitoring system for the oil and gas industry, with operations in the UK, Canada, China and Latin America. The systems consist of ultra-reliable, passive fiber optic sensors designed to ensure the capture of high quality, broadband, cost-effec-
tive, 4D seismic data.

For additional information, please contact:
iRes-Geo technology Ltd.
Jim Farrington
SVP, Business Manager
Unit 1, Block 5, Research & Development Park
Heriot-Watt University, Riccarton
Edinburgh, United Kindom EH14 4AP
[email protected]
www.ires-geo.com

Stingray Geophysical
David Cox
CEO
227D Brunswick Blvd.
Pointe-Claire
Quebec H4T 1K2 Canada
[email protected]
www.stingraygeophysical.com