Medco to carry out multidiscipline study on Madura block

Australian oil and gas company CityView Corporation Limited said Friday its joint venture partner and the operator of Madura Block, PT Medco Energi International Tbk, had appointed Gaffney, Cline & Associates (Consultants) Pte Ltd to carry out a comprehensive multidiscipline study on the Block's prospects.

According to CityView, Medco has advised that this study will become the basis for future work programs and budgets.

Madura block is located onshore central Madura Island in East Java's Sampang regency. Earlier, Medco reported that several gas and fluorescent shown at the Telaga-1 prospect. The Telaga-1 was the latest drilling program in the Block. Medco has completed drilling the prospect at total depth of 10,200 feet.

CityView earlier said that Medco would request the relevant authorities for an extension to the Madura PSC Exploration period (which expires in May 2004) and the operator had expressed confidence that it will be able to secure such extension.

State oil and gas firm Pertamina has 35 percent interest in the Madura block, while CityView, Medco and Falcon Oil Pte. Ltd hold 16.25 percent, 24.75 percent and 24 percent, respectively. (robert)