Continental Energy announces first E. Kalimantan appraisal well spud
Monday, August 27 2007 - 11:41 PM WIB
Dallas-based firm Continental Energy Corporation announced Monday that its 18% owned Indonesian subsidiary Continental-GeoPetro (Bengara-II) Ltd. has spudded the Seberaba-#4 appraisal well.
The well is the first of 3 planned appraisal wells to further evaluate the Seberaba structure in the Bengara-II Block, onshore East Kalimantan.
Drilling of the Seberaba-#4 to a planned total depth of 2,800 meters is expected to take up to 48 days at a cost of over US$5.3 million.
The Seberaba-#4 will test an updip structural culmination of the large Seberaba structure at a position on the same structure approximately 2.5 kilometers southeast of the Seberaba-#1 exploration well location.
Other participants in Bengara-II block are Chinese firm CNPC, which holds 70 percent interest and San Fransisco-based GeoPetro Resources with 12 percent interests. (alex)