Mitra completes Biliton seismic acquisition

Privately-held independent oil, gas exploration firm Mitra Energy Limited said it has completed the 3D seismic data acquisition survey in the Biliton PSC, offshore Java.

A total of 252 square kilometres of data was acquired using CGGVeritas/Elnusa's "Pacific Finder" vessel, the company said.

The Biliton PSC covers almost 3,950 square kilometers. Mitra currently holds 95% equity interest and operatorship, following the withdrawal of the original operator, Serica Energy (45%) and its partner, Nations Petroleum (45%) from the PSC upon finding two wells drilled dry in December 2007 and January 2008.

During 2009 and 2010 Mitra carried out fluid inclusion and basin modelling studies and seismic reprocessing to assess remaining prospectivity. This work has resulted in the high grading of the Batara Sambu prospect, a large four way dip trap close to the potential source kitchen. As the main focus for Mitra's future exploration effort Mitra's auditor (RISC) had assigned a net best estimate (P50) Prospective Resource of 132 mmbo, and a net high estimate (P10) of 324 mmbo for this prospect. (romel)