Energy Equity plans drilling campaign Q2 2006

Energy Equity Epic (Sengkang) Pty. Ltd, the operator of Sengkang PSC onshore South Sulawesi, plans to carry out drilling campaign during the second quarter of 2006.

“The production wells (natural gas) drilling and completion and workover program is to be conducted within the producing Kampung Baru gas field located in the Gilireng district of Wajo regency,” the company said in a tender notice recently.

The Sengkang block has a total of 425 billion cubic feet of proved and probable net remaining sales - gas reserves in its producing and non-producing field as of June 2005. Of these reserves 152 BCF is committed to the 135-megawatt Sengkang power station, which is located adjacent to the block.

Australian firm Energy World Corporation Ltd and US energy firm El Paso Energy each own a 50 percent interest in the PSC. El Paso, however, is in process to dispose its participation. (Robert)