Cue, partners start acquiring 2D seismic in Sampang PSC

Australian listed oil company Cue Energy Resources Limited said on Wednesday it had started acquiring additional 2D Seismic in Sampang Block production sharing contract (PSC) on 6 September 2002.

Cue said the eight lines of the survey had been designed to delineate a structural closure at the Mundu formation level that had been mapped up dip from oil and gas shows that had been encountered in the Mundu formation in the Anggur-3 well, which had been drilled in September 2002.

The Anggur 2D Seismic is being acquired in conjunction with a seismic site survey over the Wortel (Oyong Barat) prospect, which is situated approximately seven kilometers west of the Oyong oil and gas discovery.

Cue said Wortel was a candidate for drilling in the fourth quarter 2002 and had been assessed to have the potential to contain similar volumes of oil and gas (100 million barrels of oil in place and 150 billion cubic feed of natural gas in place, in a mean case) to those of Oyong.

The overall survey is expected to be completed by 12 September 2002, Cue added.

The Sampang Block PSC is located offshore East Java. Australian oil company Santos Limited is the operator of the block with 45 percent participating interest, while Coastal Indonesia Sampang and Cue Energy hold 40 percent and 15 percent, respectively. (robert)