Medco fails to confirm depth of perforating guns at Sebaya-1 well

Publicly listed oil miner PT Medco Energy International has failed to confirm the correct depth of the perforating guns at its Sebaya-1 well in Madura Block, its joint venture partner CityView said on Tuesday.

Medco?s failure was due to its inability to run the GR-CCL correlation tool which enables it to confirm the depth of the perforating guns, said the Australian listed oil firm.

Medco is now reconditioning the high viscosity mud in order to re-run the tool. The drill stem test will be performed after the GR-CCL tool has been run successfully and it is confirmed that the perforating guns are at the correct depth, CityView said.

CityView further said the drilling of the Pidawan-1 well in Simenggaris Block in East Kalimantan has reached the depth of 5580 feet.

Mud logs at the Padawan-1 well have identified two trace oil shows in the 8(1/2) inch hole section. Drilling continues.

CityView is free carried by Medco throughout the current work programs and has a 25 percent intererst in both blocks.

State oil and gas firm Pertamina has 35 percent interest in Madura exploration block, while CityView, Medco and Falcon Oil Pte. Ltd hold 16.25 percent, 24.75 percent and 24 percent, respectively. (robert/Leo)