Medco revises drilling program in Madura, Simenggaris Blocks

Australian listed publicly oil company CityView Limited Corp said on Wednesday, its joint venture partner and the operator, PT Medco Energi International Tbk, had revised the drilling program in Madura and Simenggaris Blocks.

CityView said the spud on the Tembuku well in date will be delayed due to mobilization of part of the drilling equipment to be used.

CityView explained the delay is due to port congestion and clearance restrictions in Seram, where the Apexindo Rig 2 was released from its last contract.

As previously reported, Medco had planned to drill Tembuku at 10,416 feet target depth and Telaga at 10,545 feet. The wells were scheduled to be supped on October 1, 2002 and December 15, 2002, respectively.

?There is a possibility that the Operator may drill the Telaga well first if the location construction can be complete,? CityView said in a statement to Australian Stock Exchange.

The Telaga location construction is now 50 percent complete, CityView added.

Tembuku and Telaga wells are located in Madura Joint Operating Body (JOB) Block in East Java.

Meanwhile, CityView said Medco would use Apexindo Rig 8 and not Rig 3 for the next 3 wells in the Simenggaris JOB Block. Apexindo Rig 8 is a 2000 HP rig.

Apexindo is presently looking for a barge that can be used with rig 8, CityView said.

Furthermore, the new sequence of the next 3 wells to be drilled in the block is Bangku Besar, Bangku Besar Barat, and Sesayap B.

The change of sequence had been made due to logistic reasons, CityView added.

Simenggaris JOB Block is located in East Kalimantan.

CityView is free carried by Medco throughout the current work programs and has a 25 percent gross interest in both Blocks. (robert)