Medco prepares analysis on Sebaya-1 well

Australian listed oil firm CityView Corporation Limited said on Tuesday its joint venture partner publicly listed company PT. Medco Energi International Tbk. is preparing the results and analysis of the drill stem tests for the Sebaya-1 well in Madura Block.

Earlier CityView reported testing on zone 1, 2, 3, and 4 of the Sebaya-1 well had not shown any flow.

CityView further said on Tuesday the rig at Pidawan-1 well in Simenggaris Block in East Kalimantan had been repaired on June 13, 2002.

The rig is now waiting on the cement to dry, CityView said.

According to CityView, Medco plans to perforate the 1st zone of the well on June 19, 2002.

CityView is free carried by Medco throughout the current work programs and has a 25 percent interest 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)