Lion, partners plans 1 well drilling in Sumatra block
Wednesday, March 12 2014 - 04:38 AM WIB
By Ruli Setiawan
ASX-listed oil firm Lion Energy and partners in South Block A PSC onshore Northern Sumatra is currently undertaking 170km seismic with a view to drill one exploration well in the block by year-end.
According to Lion Energy's presentation filed with the ASX, the seismic is targeting lead with prospective resources of 429BCF of gas and 47mmbl of oil and condensate (gross, recoverable, P50, unrisked).
The block is operated by RENCO Elang Energy with 51% interest. Lion holds 35% interest in the block with PT Prosys Oil& Gas International holding the balance.
The block was awarded to RENCO in 2009.
Editing by Reiner Simanjuntak