Carnarvon updates Indonesian ops

The following is an excerpt taken from Quarterly Report of Australian oil, gas firm Carnarvon Petroleum published on Wednesday .

Rangkas PSC ? Onshore Indonesia
(Carnarvon Petroleum 33%, Lundin Petroleum 67% and Operator)

Carnarvon?s interest in the PSC has been revised upward to 33% after Tap Oil Limited withdrew from the PSC during the quarter. The revision came at no additional cost to Carnarvon.

Seismic data gathered in 2011 was used to refine the geophysical mapping of 15 significant leads. Seismic interpretation has also complemented a number of reservoir and basin modelling studies undertaken. The work completed to date indicates multiple play types, often stacked, are present in this PSC.

The above work now fulfils the requirements of the ?1st Exploration Period? and 25% of the area of the Rangkas block was submitted for partial relinquishment, as required under the terms of the PSC. (end of excerpt)