Lundin to drill Banyumas block in Q2 2005

Swedish E&P company Lundin Petroleum AB is expected to commence drilling exploration program at its Banyumas Block onshore Central Java in the second quarter of 2005, according to the company’s recent bidding announcement.

In the second quarter of 2003, Lundin acquired 490 km of new 2D seismic over existing leads. Processing of the newly acquired seismic is ongoing with several prospects have been identified.

Lundin, through its subsidiary Lundin Banyumas, is the operator and has a 50 percent working interest in the block. The production sharing contract was signed on May 17, 2001, jointly with partner ConocoPhillips (50 percent). (Robert)