Kisaran contractors to start drilling this year
Tuesday, July 31 2012 - 01:48 AM WIB
ASX listed New Zealand Oil and Gas Ltd (NZOG) stated that its consortium in Kisaran Block, North Sumatra, will start exploration drillings in the block later this year instead of in the next 12 months as previously reported.
?Plans are at an advanced stage to drill two wells later in 2012. One of these would appraise the undeveloped oil discovery made in 2003; the other would test a prospect with dual targets up-dip of strong oil indications in the same well. Provisional mean prospective resources associated with these prospects are approximately 60 million barrels of oil,? the company said in a press statement on Tuesday.
NZOG has a 22.5 percent interest in the Kisaran Block, while Bukit Energy has 22.5 percent interest, and Pacific Oil & Gas as the operator has 55 percent interest.
"Our targets for Kisaran is conventional, but the possibilities are unconventional," the company said in a report submitted to the ASX.
Recently, the company stated it planned to drill at least two wells at the block in the next 12 months. Kisaran exploration block is located onshore of North Sumatra, near its 45 percent owned Bohorok production sharing contract, which is also an exploration block.
It has also stated that it was considering two additional joint study agreements in Sumatra, but it gave no further details.
Editing by Benget Besalicto Tnb.