AED updates Rombebai PSC activity
Friday, December 17 2010 - 02:55 AM WIB
Rombebai PSC, Papua
The Rombebai prospect is a world-class multi Tcf prospective resource (targeting in excess of 7 Tcf). In addition to the massive gas potential within Rombebai, we believe there is also significant prospectively for a major oil find.
New seismic data and interpretation work has significantly increased the prospectively of the Gesa structure. Our recent reviews indicate oil as well as thermal gas potential indicated by oil fluorescence in Gesa 1 and 2, and oil being analysed in hydrocarbon seeps. Our initial assessment had previously concluded that only biogenic gas was likely to be present.
Based on this latest analysis, including the review of well logs from previous drilling campaigns, amplitude and AVO anomalies assessed are indicative of the presence of hydrocarbons within these Gesa reservoirs. In our 2011 G&G program will undertake activities reprocessing data and performing detailed AVO studies to better quantify the hydrocarbon type and distribution, as well as sampling oil seeps in the region.
As previously advised, the current licence in respect of the Rombebai resource expires in November 2011 and we are currently seeking a three year extension to November 2014. We have been encouraged by the support shown from BPMIGAS and we believe that we will shortly receive their recommendation to the Government of Indonesia to grant the extension requested.
On receiving a successful extension to the licence the company plans to continue with its development plans to drill at Kare-1 in Q4 2011 and recommence farm-out discussions with interested parties. Significant work has been performed in readiness for next year?s operations including:
? Socialisation and permitting is well advanced.
? Tendering for long lead items such as rig selection, tubulars, liner hanger and wellhead is underway.
? Initial field surveys and analysis of construction work required have been completed.
? A mobilisation plan for entering via Gesa River in being prepared, and the process for obtaining permits for rig and related services underway. (end of excerpt)