GeoPetro to commence first drilling E. Kalimantan block in April 2007
Wednesday, February 21 2007 - 01:05 AM WIB
?Mobilization of the rig and equipment to the drill site is underway with drilling expected to commence in April 2007,? GeoPetro said in a statement Tuesday.
On Jan 18, 2007, Dallas-based oil firm Continental Energy Corporation said in the statement that first drilling would commence in March 2007.
According to GeoPetro, the Seberaba-1 well plans a total depth of 13,780 feet. It is the deepest of the four planned wells and is located to test three separate oil prospective stratigraphic levels and one natural gas prospective zone on a large seismically determined trap, formed by a rollover into a large regional fault.
Drilling and testing of the Seberaba-1 is expected to take approximately three months and is budgeted at $6.2 million. Upon completion of the Seberaba-1 well operations, three additional wells are planned for drilling utilizing the same rig, GeoPetro added.
Bengara-II PSC is located onshore East Kalimantan. Continental holds an 18 percent interest in the block, while CNPCHK (Indonesia) Limited and GeoPetro hold 70 percent and 12 percent interests, respectively. (denny)