Drilling result in Madura JOB likely discouraging

Exspan Nusantara, a wholly owned subsidiary of JSX-listed oil and gas company Medco Energi Internasional Tbk said test results from Telaga-1 exploration well in Madura JOB offshore East Java indicating discouraging results.

?There are gas indications in the well, but it is likely that the volume was not economic,? said Budi Basuki, Esxpan?s operations director.

Medco had completed drilling to the depth of 10,650 feet in Telaga-1 well.

Budi said he was uncertain about the future of the blocks. ?We have drilled four well in the blocks, but the results were unsatisfactory,? he said.(alex)