Romania: Winstar Completes Acquisition of 3D Seismic at Moftinu Natural Gas Discovery

Winstar Resources Ltd. has completed a $3.5 million field acquisition of 80 sq km of 3D seismic over its Moftinu natural gas discovery on the 765,000-acre Satu Mare concession in Romania.

Winstar expects the seismic be processed and interpreted by January 2013, will generate direct hydrocarbon indicators in the form of AVO anomalies to help define Moftinu’s size and configuration. The Moftinu discovery well went to 1,602 m and flowed 1.8 MMcfd of gas from Pliocene and Miocene sands.

Winstar has entered into a maximum work committment of $9.5 million to earn up to a 60% working interest from Rompetrol SA in the Moftinu discovery.

The Satu Mare concession in located in the northwestern part of Romania which borders Hungary and Ukraine.