Lundin says C. Java exploration well to be completed next month

Swedish E&P firm Lundin Petroleum AB reported Monday that the Jati-1 exploration well located at the Cipari prospect of the Banyumas Block onshore Central Java was still drilling with current depth in excess of 4,000 meters.

?The plan is to drill down to a revised total depth of 4,600 meters which is anticipated to be completed in February 2006,? Lundin said in a statement.

Lundin is the operator of the well but under the farm-out agreement concluded in 2004 the firm, together with its partner ConocoPhillips, are obligated to sell some of their stakes in the block including the operatorship to Star Energy if oil is found in the block. (Robert)