The existence of oil and gas reserve in the East Sea is "highly prospective" as seismic data show the examined wells contain all four key elements of a petroleum system, Vitor Abreu, the owner and adviser of the US geoscience research firm Act-Geo said Friday. Act-Geo is the company that suggested substantial oil and natural gas deposits may be buried in the deep sea near Pohang's Yeongil Bay. "So to summarize ... the basin is highly prospective," Abreu said during a pre