( The central part of the Gippsland Basin is surrounded by existing major Petroleum accumulations and although six exploration wells have been drilled in the area, none are significant petroleum discoveries. Post drilling analyses indicate that the wells were drilled off structure due to the presence of high-velocity Miocene channels. These channels contain carbonates of significantly higher interval velocity than the surrounding sediments. Problems with seismic interpretation were thus encountered in the development of prospects in the central part of the Gippsland Basin as part of a BMR prospectivity study. The seismic interpretation problems associated with the Miocene channels are two-way time pull-ups at the underlying top of Latrobe Group and deeper levels on the seismic sections. Interpreted seismic sections passing through some of the exploration wells and the Miocene channels are presented to illustrate the configurations of these channels and the pullup effect associated with them. Two different methods of depth conversion were applied, one for the area below the high velocity channels and the other for the area away from the channel. The application of these two methods of depth conversion were found to be reasonably successful in correcting for the pull-ups caused by the high velocity Miocene channels. Mapping of the events near the top of Latrobe Group and near Base Lower L balmei seismic horizons has led to the identification of several potential structural closures. Further exploration efforts are necessary in this area to test these closures.