High gas reading reported on Medco?s E. Java Karasan-1 well
Monday, February 18 2002 - 04:17 AM WIB
Australian oil, gas explorer CityView Corporation Limited said on Monday drilling of Karasan-1 well in Madura joint operating body (JOB) exploration block in East Java had reached a depth of 3811 feet.
Madura JOB is operated by PT. Medco Energi International Tbk.
CityView said in a statement that high gas reading was reported at 3656 and 3671 feet. However, said the company, until testing has been carried out, the information is insufficient to determine if there may be reservoir quality rock at these depths.
CityView is free carried by Medco throughout the drilling of this well and has a net 16.25 percent interest in all production there-from. (robert)