Medco plans to drill 2 wells in Simenggaris, gets prospect in Madura
Thursday, January 29 2004 - 06:59 AM WIB
Australian oil and gas explorer CityView Corporation Ltd. said its partner and operating shareholder PT Medco Energi Internasional is planning to drill two wells in Simenggaris oil block onshore East Kalimantan in 2004.
According to CityView?s quarterly report ended December, 2003 sent to Australian Stock Exchange (ASX) Thursday, Medco is awaiting the government's approval of the work program and budget.
In Madura block, located in Madura island, Medco, which is also an operator, has conducted a comprehensive evaluation of the exploration work and concluded that the block contains a large potential gas reserve. Subsequently, the operator engaged Gaffney Cline & Associated Pte Ltd to carry out a comprehensive multidiscipline study on the prospectivity of the block, CityView said.
CityView has a 25 percent gross interest in each of the blocks. (Hotma)