Medco, CityView indicate oil shows in Madura exploration block

Australian listed oil, gas firm CityView Corporation Limited said Wednesday its joint venture partner and operator PT Medco Energi Internasional Tbk had reported that the drilling in Sebaya-1 well onshore Madura, East Java, had reached a depth of 4,415 feet and Medco had decided to deepen the well to 6,000 feet to test for further zone and drilling.

?Drilling to date has indicated three zones of oil shows in sandstones and limestones between 2250-3100 feet. Upon completing the 4415 feet target depth, Medco will then conduct case hole testing which may be either drill-stem or production tests,? said CityView in a statement.

CityView has a 25 percent free carried interest in Madura exploration block (alex)