MEO estimates Kuala Langsa to contain 5.4tcf of recoverable gas resources

By Romel S. Gurky

ASX-listed firm MEO Australia Ltd said that the Kuala Langsa field in the Seruway PSC, offshore North Sumatra, is estimated to contain up to 5.4 tcf of recoverable gas resources.

?Kuala Langsa is a substantial gas discovery. The discovery well was drilled in the adjacent onshore PSC encountered a 230m gas column. MEO estimates that Kuala Langsa contains up to 5.4tcf of raw recoverable gas resources, however based on MEO?s most recent PVT analysis, CO2 content is estimated in the 65-75 percent range,? the company said in a statement obtained Tuesday. Approximately 30 percent of the Kuala Langsa field, including the crest, is mapped to extend into Seruway PSC.

The company also said there are a number of additional prospects along trend from Juaro on the Ibu Alpha horst which have not yet been fully characterised. ?The Gurame oil and gas discovery, which was appraised by Gurame SE-1X in late 2012, remains under review and is also likely to contain further contingent resources.?

Seruway Offshore Exploration Limited (SOEL), a wholly owned subsidiary of MEO Australia, operates the Seruway PSC with 100 percent interest.

Editing by Reiner Simanjuntak