BUMI - Progress Report on Bumi Resources Tbks Project.

Friday, October 27 2000 - 05:00 AM WIB

PT Bumi Resources informed the progress of its Infill Seismic and drilling in Block R-2 Republic of Yaman as follows:

1. Infill Seismic

The Infill Seismic in Block R-2 Republic of Yaman is currently on progress which includes::

a. Land Clearance 291 km

b. Surveying 310.39 km

c. Recording 166.32 km

This Infill Seismic is predicted to finish in the second week of November 2000. Interpretation of Seismic data in North East Daw'an Block R-2 Republic of Yaman is being done to determine the location of well drilling of Dawan well number 2.

2. Drilling

Preparation for mobilizing drilling equipment efrom the Contractors Site Group (Bulgaria) is being carried out due to the Companys plan to perform drilling in Daw'an Well number 2 in November 2000.

The drilling program in Block R-2 has been approved by the Government of Republic of Yaman through the letter of Petrolium Exploration and Production Authority (PEPA) received by the Company on 1 September 2000. (*)

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