AWE updates E. Java basin exploration activities
Friday, January 29 2010 - 01:29 AM WIB
The following is an excerpt from Australian Worldwide Exploration Ltd (AWE) on East Java basin projects, taken from the December, 2009 Quarterly Report published Friday. (ed)
The 3D seismic survey in the eastern portion of the Bulu PSC and in the newly acquired Terumbu PSC ( AWE 100%) has been interpreted and numerous reef prospects have been mapped. The Liyun-1 exploration well in the Bulu PSC (AWE 42.5%) is expected to be drilled in March 2010. The well will target an Early Miocene reef complex with the potential to hold 75 million barrels of recoverable oil. Lengo-2 will also be drilled in the program to appraise the gas discovery made in early 2008.
AWE has defined a number of sizeable follow up prospects in Bulu and in its adjacent Terumbu PSC, where it is actively progressing plans to drill one or two exploration wells. AWE is considering farming out a portion of the Terumbu PSC.
The 1,200 kilometre 20 seismic survey acquired in the East Muriah PSC (AWE 50%) was processed and is being interpreted.(end of edited excerpt)