CityView in talks with Medco to sell part of Indonesian interests
Thursday, July 28 2005 - 02:33 AM WIB
ASX-listed junior explorer CityView Corporation Limited said on Thursday that it was in talks with PT.Medco Energi International Tbk and other interested parties to sell part of its 20 percent gross interest in Madura JOB and Simenggaris blocks to finance exploration works in both blocks.
Madura block in East Java and Simenggaris block in East Kalimantan are operated by Medco.
Medco is currently drilling the Sebaya-3 well in Madura block and would drill two wells in Simenggaris. The three well is estimated to cost US$ 11 million. (alex)