Bulu PSC partnership to commence 3D survey

Oil and gas firm Australian Worldwide Exploration Limited (AWE) said on Wednesday that it is scheduled to commence 3D surveys in Bulu PSC, offshore East Java in the second half of 2008.

?Following the encouraging results, further work is planned, including 3D surveys in the area surrounding the Lengo and Lisah play fairways,? it said.

Lisah-1, located in the eastern portion of the PSC, started drilling on January 23, 2008 and reached a total depth of 2,615 metres. Good oil shows were obtained in the secondary objective, but logs indicated that the reservoir development was poor. The well was subsequently plugged and abandoned.

The Lengo-1 well was targeting a gas prospect in the north-west portion of the block. The well started dulling on March 8, 2008 and was drilled to a total depth of 987 metres. Strong gas shows were encountered in the main target reservoir section over a gross interval of 42 metres, which flowed gas at rates of up to 12.8 million cubic feet per day.

AWE has 42.5 percent interest in the PSC, Meanwhile other participants are Aabar Petroleum Investments Company PJSC which acts as operator holds 42.5 percent interest, PT Satria Energindo 10.0 percent and PT Satria Wijaya Kusuma 5.0 percent. (denny)