Medco, Citiview start dredging Simenggaris Block in E. Java

Australian oil and gas company CityView Corporation Limited reported Monday that it had received notification from the operator of the Simenggaris and Madura exploration Blocks in East Java - PT Medco Energi Corporation - that the the dredging of the approach channel at Pidawan in the Simenggaris Block had commenced.

According to the report, the dredging work contract was awarded to PT Indo Strait.

Upon completion of the dredging, said Citiview, the drilling of the well at Pidawan would commence.

In its report to Australian Stock Exchange, Citiview said the drilling of the Pidawan prospect would test for oil and gas in a proven oil producing area with Medco estimating recoverable reserves for the prospect to be 52 million barrels of oil and 91 billion cubic feet of gas.

The target depth will be 2,300 metres on trend with the Half Graben Area, which contains the Bangkudulis and sembakung discoveries.

Medco Energi Corporation, an Indonesian listed oil and gas company holds 75 percent interest in both Madura and Simenggaris Blocks, while CityView holds the remaining 25 percent interest.

CityView is an independent energy company focused on Southeast Asia with prospects in Indonesia and off shore Philippines.

Citiview?s largest shareholder is Malaysia Mining Corporation Berhad. (Alex)