Cooper Energy spuds E. Java exploration well
Monday, July 16 2007 - 12:53 AM WIB
Australian oil, gas firm Cooper Energy Limited announced Monday that Kurnia-1 in the South Madura PSC, onshore East Java, has spud with Parker 253 rig commenced drilling on 15 July 2007.
The well would be drilled to the total depth of 3,373 meters with completion seen around 60-80 days.
The Kurnia-1 prospect, which is located in the southern part of the block, is evaluated to have reserves of 256BCF of recoverable gas and 199 million barrels of recoverable oil at confidence level of 50 percent.
Cooper is the operator of South Madura PSC with 30 percent working interest. Nations Petroleum has 60 percent and the remaining 10 percent is owned by local firm PT Eksindo. (denny)