Offshore diamond prospecting licence granted

COMPUPRINT, an energy technology company that combines satellite-based technology with traditional exploration services, announced yesterday that its Namibian subsidiary, Namterra Mineral Resources, has been awarded its sixth exclusive licence to prospect for precious stones in Namibian waters.

The licence expires in July 2009 and the concession area covers approximately 100 000 hectares of off-shore territory, bringing the total area to more than 500 000 hectares for all six licences now granted to the company’s Namibia subsidiary. “This is an exciting opportunity for us, as we expand our thrust to natural resources in Africa, in addition to our current oil and gas projects in the United States and Turkey, and it is consistent with our business model of obtaining ownership interests in order to capitalise on the use of our STeP technology in exploration projects,” said Roman Rozenberg, Chief Executive Officer.”To develop the properties underlying these licences, we plan to deploy STeP for the exploration of natural resources other than oil and gas activities.The technology has previously been used successfully in prospecting for diamonds.”He said they plan to reconstruct a model of the historic shoreline, showing where ancient rivers flowed and thereby identifying the eroded kimberlite pipes to predict the potential off-shore traps for alluvial diamonds.CompuPrint, through its wholly owned subsidiary, Terra Insight Corporation, provides mapping, surveying, and analytical services to exploration, drilling, and mining companies.The company primarily uses STeP technology, which facilitates the prediction and location of commercially viable deposits of hydrocarbons, gold, diamonds, and other natural resources.It manages and interprets geologic and satellite data to develop the assessment of natural resources.”This is an exciting opportunity for us, as we expand our thrust to natural resources in Africa, in addition to our current oil and gas projects in the United States and Turkey, and it is consistent with our business model of obtaining ownership interests in order to capitalise on the use of our STeP technology in exploration projects,” said Roman Rozenberg, Chief Executive Officer.”To develop the properties underlying these licences, we plan to deploy STeP for the exploration of natural resources other than oil and gas activities.The technology has previously been used successfully in prospecting for diamonds.”He said they plan to reconstruct a model of the historic shoreline, showing where ancient rivers flowed and thereby identifying the eroded kimberlite pipes to predict the potential off-shore traps for alluvial diamonds.CompuPrint, through its wholly owned subsidiary, Terra Insight Corporation, provides mapping, surveying, and analytical services to exploration, drilling, and mining companies.The company primarily uses STeP technology, which facilitates the prediction and location of commercially viable deposits of hydrocarbons, gold, diamonds, and other natural resources.It manages and interprets geologic and satellite data to develop the assessment of natural resources.