Apexindo spuds first well at Banteng prospect in S. Sumatra

JSX-listed drilling contractor PT Apexindo Pratama Duta said Tuesday it had spudded on April 15 the Banteng-1 exploration well at Banteng prospect of Lematang PSC onshore South Sumatra.

Apexindo said in a statement to the bourse that the drilling program worth US$2.84 million was awarded by its affiliate company PT Exspan Lematang, the operator of the block. Exspan Lematang is wholly owned subsidiary of JSX-listed Medco Energi.

Lematang PSC comprises the Harimau, the Singa, the Banteng, the Tapir, the Siamang, the Kijang, and the Tupai fields.

The Banteng is a large gas prospect with most likely gas reserves of over 500 billion cubic feet (BCF). Meanwhile, an independent certification of the Singa field in 2000 gave 2P sales gas reserves of 246 BCF.

Canadian junior oil company Serica Energy Corporation, which has 10 percent working interest in Lematang reported in March this year that the Singa 2 well had tested gas at a rate of 12.5 million cubic feet per day (MMCFD), while the Singa 1 well eventually tested at 32 MMCFD per day after acidization. (robert)