Medco suspends Sebaya-1 well program

Australian listed company CityView Corporation Limited said on Monday it had received from the operator of Madura Block, PT Medco Energi International, the final results of drill stem test at Sebaya-1 well.

CityView said the first zone of the well showed a flow rate through a 16-inch choke of 76.24 barrel per day (bpd) condensate, 51.3 API, and 0.670 million standard cubic feet per day (MSCFD) of gas.

But the 2nd, 3rd, and 4th zones did not flow. ?The operator is performing a structure analysis to determine the reasons that these zones did not flow,? CityView said in a statement to Australian Stock Exchange.

CityView said Medco is presently re-mapping the structure in order to determine the possible reservoir reserves based on the data obtained from drilling the well and test results.

The well was suspended in consideration of a delineation well and the possibility of production from the Sebaya well, at a later date, if the structure is determined to be of commercial value, CityView added.

Furthermore, as previously reported, Medco planned to drill Telaga-1 well and Tembuku-1 well in the same Block.

Madura Joint Operation Block is located in East Java province.

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)