Medco?s weekly drilling & exploration activities

Wednesday, December 21 2005 - 10:52 AM WIB

PT MEDCO ENERGI INTERNASIONAL TBK & SUBSIDIARIES
WEEKLY DRILLING & EXPLORATION ACTIVITIES
Week ending December 16, 2005

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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

Rigging down and prepare to move to Resik-1 exploratory well.

Next Plan

Spud in and drill Resik-1 well.

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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

Open well, last rate on Perf int 5318'-5330' 32/64" choke. WHP 1050 psi 5.00 MMSCFD 6 bbl/hr condensate. Shut in well for PBU.

Next Plan

Open well for stable rate, run deliverability test.

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Rengas-1, 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

Perf int 3841'-3849', swabbed rec 20bbls 100% 10.1ppg Salt Water. Reperforated int 3841'-3849', swabbed total rec 23.2bbls 10ppg Salt Water (possible completion fluid). Perf int 3841'-3849', commingled w/ 3826'-2832', swabbed rec 8.7bbls 100% 9.0ppg SW, Shut in 1 hr, WHP 40psi, bled off press, gas only. Swab the well, recovered 0.5blls 9.0ppg SW, SIW, SITP 480psi

Next Plan

Open well, continue swabbing.

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Gesang-1, Merangin-1 PSC, Jambi, Indonesia

Interest

100% through PT Medco E&P Indonesia

Operator

PT Medco E&P Indonesia

Type

Oil and Gas Exploration

Status at 0600hrs

Drilling 8?" hole at 7363'MD/TVD. Baturaja Limestone entered at 7215'MD (-7044'SS), had gas and oil shows from cuttings.

Next Plan

Drill ahead w/ 8?" bit to TD.

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Anyelir-1, 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

Moving and rigging up.

Next Plan

Spud in well, drilling 17?" hole.

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DEVELOPMENT WELLS

S Pamusian 2005-1, 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

Moving to S Pamusian 2005-1.

Next Plan

Drilling at S Pamusian 2005-1.

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Semoga Water Flood 2005-2, 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

Drilled 12?" bit, run 9 5/8" casing and drill ahead to TD of 2804'MD/2710'TVD, ran wireline log, RIH w/ 8?" casing to clean out hole prior to run 7" casing.

Next Plan

Run 7" casing, R/D and release rig.

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Kaji Semoga 2005-29, 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

Spudded in well, ran 13 3/8" and 9 5/8" casing, N/U "A" section.

Next Plan

Drill to TD, logging, run 7" casing.

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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: Completed

Next Plan

Continue with drilling shothole (2D survey area).

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