Continental Energy revises 2007 E. Kalimantan block drilling program

Dallas-based oil, gas explorer Continental Energy Corporation said on Thursday that it has revised and accelerated its 2007 drilling program for the Bengara-II Block, onshore East Kalimantan .

 

“The revised plan filed with Indonesian authorities increases the drilling program for 2007 from a total of four new exploration wells to a total of six new wells, two of which are classified into wildcat exploration wells and four of which are classified into appraisal wells,” the company said in statement.

 

A second drilling rig contracted by the company arrived in the Bengara-II Block last week and will spud the second well of the six well program on the Bengara-II Block later this month, the company said

 

Drilling on the company's first 2007 Bengara-II Block well, the Seberaba- #1 wildcat, is nearing completion and once the drilling is completed, the drilling rig will be released and moved to spud the third well.

 

According to the company, a workover rig has arrived on location and will be deployed on the Seberaba-#1 to conduct a planned extensive formation flow testing program.

 

A third rig is underway to the Bengara-II Block and is expected to arrive in September to expedite the completion of the program.

 

Continental holds an 18 percent interest in the block, while CNPCHK Limited (of )and GeoPetro hold 70 percent and 12 percent interests, respectively. (denny)