Medco, CityView indicate oil find in East Java

Australian listed oil, gas firm CityView Corporation Limited said Monday that its venture partner Medco Energi Internasional Tbk, the operator of Madura exploration block in East Java that the the Sebaya-1 well had been drilled to 5,727 feet out of the 6,400 feet target.

CityView said that drilling to date had indicated three zones of oil shows between 2,250 - 3,100 feet

?Upon completing target depth Medco will make open hole measurements and plan a testing program based on drilling results and the open hole measurements,? said the company in its statement.

CityView has a 25 percent interest in Madura exploration block and is free carried by Medco throughout this work program.(alex)