NXT was contracted to conduct an initial survey for Petróleos Mexicanos (“PEMEX”), the national oil company of Mexico, in mid 2012. This survey was designed by PEMEX largely as a “blind test” of the efficacy of the SFD® technology. Shortly thereafter, PEMEX commenced an in-depth “Integration study” to compare the SFD® data with its extensive existing internal production and geophysical data sets.
PEMEX and NXT then jointly authored a technical paper (the “Paper”) which summarizes the results of the initial survey, and the high extent of correlations between SFD® identified anomalies and PEMEX’s existing production and prospects identified using seismic, aero-magnetic, aero-gravity and other geophysical methods. This Paper was formally presented to the E&P industry in July 2013 in Cartagena, Colombia at the Next Generation Oil & Gas (“NGO”) Latin America Summit 5 Conference.