Medco?s weekly drilling & exploration activities

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EXPLORATION / APPRAISAL WELLS

Mudi B-24, Tuban PSC JOB, East Java, Indonesia

Interest

25% through PT Medco E&P Tuban

Operator

PetroChina International

Type

Oil and Gas Development

Status at 0600hrs

Drilling directionally 12 ?" hole to 6540' MD (KOP at 6500' MD)

Next Plan

Drilling 12 ?" hole to 9 5/8" csg poit.

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Jata-4ST, South Sumatra Extension PSC, South Sumatra, Indonesia

Interest

100% through PT Medco E&P Indonesia

Operator

PT Medco E&P Indonesia

Type

Oil and Gas Exploration

Status at 0600hrs

Perforated interval 5318-5330', last rate flowed on 16/64" chk 2 bbls/hr condensate, WC 10%, cumulative recovery 61 bbls, R/D rig

Next Plan

Open well for stable rate, run SBHP

Interest

100% through PT Medco E&P Indonesia

Operator

PT Medco E&P Indonesia

Type

Oil and Gas Exploration

Status at 0600hrs

Opening hole to 17?" bit

Next Plan

Run 13 3/8" casing, drill head w/ 12 ?" bit to 9 5/8" casing point.

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DEVELOPMENT WELLS

Tiaka-6, Senoro Toili PSC JOB, Central Sulawesi, Indonesia

Interest

50% through PT Medco E&P Tomori Sulawesi

Operator

JOB PERTAMINA - Medco E&P Tomori Sulawesi

Type

Oil Development

Status at 0600hrs

RIH w/ 6" bit and 7" scrapper, DOC from 7359' to TOL at 7450'

Next Plan

Recompletion.

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Mamburungan - 2005-2, Tarakan PSC, East Kalimantan, Indonesia

Interest

100% through PT Medco E&P Kalimantan

Operator

PT Medco E&P Kalimantan

Type

Oil Development

Status at 0600hrs

Drilling out cement inside 4?" liner to 2330m

Next Plan

Perforate and test.

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Kaji Semoga 2005-33, Rimau Block PSC, South Sumatra, Indonesia

Interest

95% through PT Medco E&P Indonesia

Operator

PT Medco E&P Indonesia

Type

Oil Development

Status at 0600hrs

Moving rig to staging area for maintenance.

Next Plan

Maintenance rig.

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Kaji Semoga Water Flood 2005-1, Rimau Block PSC, South Sumatra, Indonesia

Interest

95% through PT Medco E&P Indonesia

Operator

PT Medco E&P Indonesia

Type

Oil Development

Status at 0600hrs

Rigging up.

Next Plan

Spud well and drill KWF 2005-1.

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Matra D-4, Rimau Block PSC, South Sumatra, Indonesia

Interest

95% through PT Medco E&P Indonesia

Operator

PT Medco E&P Indonesia

Type

Oil Development

Status at 0600hrs

Drilling 8 ?" sidetrack Matra D4 ST at 3400'

Next Plan

Drill 8 ?" sidetracking toTD, run wireline log.

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SEISMIC SURVEY

Tarakan 2D/3D, Tarakan TAC, East Kalimantan, Indonesia

Interest

100% through PT Medco E&P Tarakan

Operator

PT Medco E&P Tarakan

Type

2D/3D Seismic Survey

Activities

3D Survey: Completed
2D Survey: Line preparation activities (i.e. line clearance, topographic measurement, shothole drilling and recording) have been conducted; The progress of the survey is as follow:
Line Clearance: 51.875 km
Topographic measurement: 62.9 km (100%)
Shothole Drilling: 849 Shotpoint (67.06%).

Next Plan

Continue with drilling shothole (2D survey area).