Apexindo awarded contract to drill E. Java wells

Publicly listed oil drilling company PT Apexindo Pratama Duta Tbk has been awarded a contract to drill both the Tembuku and Telaga wells in East Java, CityView Limited Corporation said on Wednesday.

CityView said the rig used for the drilling work will be Apexindo 1500 HP rig 2.

Tembuku and Telaga wells are located in Madura joint operating body (JOB) block with PT Apexindo?s parent, publicly listed PT Medco Energi International Tbk, being the operator.

CityView said the Medco-Pertamina JOB is presently inspecting the rig prior to mobilization to the Tembuku-1 location.

Medco planned to drill Tembuku at 10,416 feet target depth and Telaga at 10,545 feet. The wells were scheduled to be supped on October 1, 2002 and December 15, 2002, respectively.

The land at the Tembuku-1 location had been cleared and construction of the location is presently 12 percent complete, CityView added.

CityView is free carried by Medco throughout the current work programs and has a 25 percent gross interest in Madura JOB Block. (robert)