ExxonMobil may have discovered more oil, gas in E. Java

US oil giant ExxonMobil may have strike more oil ad gas in its Cepu technical assistance contract (TAC) in East java following the wildcat drilling it had conducted late this year.

According to IHS Energy Group, ExxonMobil drilled Jambaran 1 well and in December the well was suspended as an oil and gas discovery.

Ron Wilson, ExxonMobil Oil Indonesia?s president declined to give more detail about the discovery.

?All I can tell you is we drilled an exploration well last year and the result is ?positive?,? said Wilson on a sideline of a press conference Wednesday.

Last year ExxonMobil announced huge finding in Cepu TAC, with the initial reserve amounting to 250 million barrels of recoverable oil.

ExxonMobil is also said to have discovered significant gas in Cepu TAC.

Cepu TAC is planned to deliver first oil in 2003 with the production could peaked at 150,000 barrels per day.

Pertamina and ExxonMobil had been in talks over the former?s participation in Cepu TAC oilfield.

Pertamina, in return for early contract extension insisted on acquiring 35 percent working interest and some cash bonus while ExxonMobil was offering 15 percent.(alex)