Carnarvon updates Indonesian operation
Saturday, February 2 2008 - 02:42 AM WIB
The following is an edited excerpt from ASX-listed oil, gas firm Carnarvon Petroleum Ltd on Indonesian project, taken from quarterly report ended 31 December 2007 published on Friday.
Following the October 2007 award of a joint study license to the ?NW Natuna Joint Study Group?, joint operated by Carnarvon and Enervation Resources, each with 32.5% interest, a comprehensive review of the area has been taken place.
Additional well and seismic data were purchased and regional mapping was completed. This has allowed for high grading the area and selection of 5,062 km2 ?Retention Area? as required by Indonesia petroleum regulatory authority (MIGAS) under the terms of the study license.
Approval for the submitted and most prospective retention area is currently awaited from MIGAS. (end of excerpt)