Harvest, partner complete seismic shoot at W. Sulawesi exploration block

Houston-based oil, gas firm Harvest Natural Resources reported on Thursday that it had completed a 2-D seismic data acquisition program in the fourth quarter of 2008 in the Budong-Budong PSC, onshore West Sulawesi.

?Data processing and interpretation is currently underway. It is expected that the first of two planned onshore exploration wells will be spud in the second half of 2009,? the company said.

Harvest acquired a 47 percent interest in the block in January 2008 from Tately Budong-Budong NV. Under the deal Harvest will fund 100 percent of the first US$17.2 million of seismic and drilling costs to earn its 47 percent interest. Tately retains the block?s spectatorship and 53 percent interest. (denny)