Niko Resources updates Indonesian ops
Friday, November 12 2010 - 01:19 AM WIB
Exploration
The actual activity for the period to September 30, 2010 is included in the chart below. The forecast activity thereafter is subject to change as circumstances warrant.
| Location | Fiscal 2011 | Fiscal 2012 | ||||||
| 2010 | 2010 | 2010 | 2011 | 2011 | 2011 | 2011 | 2012 | |
| April - June | July - Sept. | Oct. - Dec. | Jan. - March | April - June | July - Sept. | Oct. - Dec. | Jan. - March | |
| Bone Bay | Drilling | |||||||
| Cendrawasih | ? | Seismic work | ? | ? | ? | ? | Drilling | ? |
| Cendrawasih II | ? | ? | ? | Seismic work | ? | ? | ? | |
| Cendrawasih III* | ? | ? | Seismic work
|
? | ? | ? | ? | ? |
| Cendrawasih IV* | ? | ? | Seismic work | ? | ? | ? | ? | ? |
| East Bula* | ? | Seismic work | ? | ? | ? | ? | ? | ? |
| Halmahera-Kofiau* | Seismic work | Seismic work | ||||||
| Kofiau* | ? | ? | ? | ? | ? | ? | ? | Drilling |
| Kumawa* | ? | ? | ? | ? | ? | ? | Drilling | ? |
| Seram* | ? | Seismic work | ? | ? | ? | ? | ? | Drilling |
| S. Matindok* | ? | ? | ? | ? | ? | ? | ? | Drilling |
| S.E. Ganal* | ? | ? | ? | ? | ? | ? | Drilling | ? |
| West Papua IV* | ? | Seismic work | ? | ? | ? | ? | ? | ? |
| West Sageri* | ? | ? | ? | ? | ? | ? | Drilling | ? |
| Note: *) Block operated by the Company | ||||||||
Background On Properties
The Company holds interests in PSCs for 16 offshore exploration blocks covering 79,739 square kilometres. The chart below indicates the location, award date, the Company?s working interest and the size of the block.
Block Name |
Offshore Area | Award Date | Working Interest | Area (square kilometers) |
| Bone Bay | Sulawesi SW | November-2008 | 45% | 4,969 |
| SE Ganal I(i) | Makassar Strait | November-2008 | 100% | 4,868 |
| Seram(i) | Seram North | November-2008 | 100% | 4,991 |
| South Matindok(i) | Sulawesi NE | November-2008 | 100% | 5,182 |
| West Sageri(i) | Makassar Straits | November-2008 | 100% | 4,977 |
| Cendrawasih | Papua NW | May-2009 | 45% | 4,991 |
| Kofiau(i) | West Papua | May-2009 | 100% | 5,000 |
| Kumawa | Papua SW | May-2009 | 45% | 5,004 |
| East Bula(i) | Seram NE | November-2009 | 100% | 6,029 |
| Halmahera-Kofiau(i) | Papua W | November-2009 | 80% | 4,926 |
| North Makassar | Makassar Strait | November-2009 | 50% | 1,787 |
| West Papua IV(i) | Papua SW | November-2009 | 80% | 6,389 |
| Cendrawasih II | Papua NW | May-2010 | 50% | 5,073 |
| Cendrawasih III(i) | Papua NW | May-2010 | 50% | 4,689 |
| Cendrawasih IV(i) | Papua NW | May-2010 | 50% | 3,904 |
| Sunda Strait(i) | Sunda Strait | May-2010 | 100% | 6,960 |
| Note: (i) Operated by the Company | ||||
Capital expenditure (capex) for the six months ended September 30, 2010 reached US$ 27 million
In the quarter, the seismic vessel shot 6,000 kilometres of 2D seismic and by the end of September 2010, the program had accumulated nearly 23,000 kilometres covering 10 blocks. In the quarter, 2,615 square kilometres of 3D seismic was acquired resulting in a cumulative total of over 9,000 square kilometres of 3D seismic by the end of September 2010. (end of edited excerpt)