TSXV: BLU | OTCQX: BLUGF | Frankfurt: 66E
VANCOUVER, BC, July 6, 2026 /CNW/ - BluEnergies Ltd. (TSXV: BLU) ("BLU" or the "Company") is pleased to provide an operations update on the work program currently being conducted on the blocks LB-26, LB-30 and LB-31 (the "Blocks") jointly with TotalEnergies (NYSE: TTE) ("TTE") in the Harper Basin, offshore Liberia.
The work program, designed to confirm and enhance drillable prospects within the Blocks, is on schedule and comprises the following operations:
Reprocessing the 6,167 sq kms of 3-D seismic data
On behalf of BLU and TTE, TGS ASA (Oslo), ("TGS") a leading provider of advanced data in the energy sector, is reprocessing the entire 3D seismic data set. This important process is on schedule, over 50% complete, with preliminary results to date. The primary goal of the data reprocessing is to enhance the seismic character/definition and the AVO content (Direct Hydrocarbon Indicator) of the original 3-D seismic survey completed by TGS in 2013.
Sea Bottom Survey: Multi Beam Echo Sounder Survey, Seabed Geochemical Sampling & Heat Flow Measurements
On behalf of BLU and TTE, GeoPartners Limited, a London based international company specialized in providing geophysical and geological services, is conducting within the Blocks a Multi-Beam Eco Sounder survey ("MBES") comprising an area of 4,045 km² in water depths ranging from 500 meters to 3,500 meters. GeoPartners is utilizing the R/V GYRE vessel owned and operated by TDI-Brooks, a Texas based offshore survey company with more than 30 years of experience providing geotechnical investigations, geochemical seep surveys and marine science worldwide. This data acquisition commenced on June 19, 2026, with expected completion in 3Q 2026 allowing for early integration into a refined 3-D seismic data interpretation.
The MBES is designed to map underwater terrain, aiding in identifying sea bottom anomalies, supporting the safe selection of future drilling locations. More specifically, the MBES identifies seabed geomorphologies (pockmarks, mud volcanoes, faults, etc.) and the presence of anomalous features (carbonates, outcrops, bacterial mats, etc.); it also performs water column imaging for the detection of anomalies related to seepage of hydrocarbons through the sea bottom.
Seabed Geochemical Sampling is conducted through piston coring to collect evidence of migrated mature hydrocarbons (detection of fluorescent/natural oil compounds, hydrocarbon chromatography, thermogenic origin, etc.)
Heat Flow Measurements are being performed to collect information about the relative sediment temperature and the thermal history of the undrilled Harper basin.