AWE updates Indonesian activity
Friday, January 30 2009 - 02:03 AM WIB
The following is an excerpt from Australian Worldwide Exploration Ltd (AWE) on East Java basin project, taken from the quarterly report ended Dec. 31, 2008.
East Java Basin
3D seismic surveys totalling 650 square kilometers were completed in the Bulu PSC in the second half of 2008. Processing of these surveys is scheduled to be completed in early 2009 in preparation for a 2-well drilling programme, currently planned for the third quarter 2009.
AWE has 42.5 percent interest in the Bulu PSC.
AWE signed the East Muriah PSC contract in November. AWE holds a 50% interest in East Muriah with Pearl Oil (50% and operator). The PSC is an extension of the play proven by the recent Lengo gas discovery in the Bulu PSC. (end of excerpt)