Pan Orient updates Indonesian ops
Monday, January 25 2010 - 06:46 PM WIB
Citarum PSC, Onshore Java (POE 69% WI and operator)
Acquisition of more than 1,100 line kilometres of 2D seismic data continues on the Citarum PSC with completion anticipated in late Q2/10. Seismic data processing and mapping of the first third of the program has been completed with the identification of three prospects in the region of the block directly adjacent to the Pasar Jadi and Subang gas fields. Target depths are shallow, ranging between 800 to 1,800 meters and mapped structural closures are up to 25 square kilometres in maximum areal extent.
The 2010 Indonesian high impact drilling program will start with three wells at Citarum commencing in the last half of 2010, the exact timing largely a function of Ministry of Forestry approvals for proposed well locations.
Batu Gajah PSC, Onshore Sumatra (POE 90% WI and operator)
The acquisition of 500 line kilometres of 2D seismic continues with completion anticipated in Q2/10. Up to nine well locations have been submitted for approval to the Ministry of Forestry and the drilling of the first four well locations is anticipated to commence immediately after the three well program on the Citarum PSC.
Indonesia Summary
Indonesian capital expenditures for 2010 are estimated at CDN$29 million and will include the drilling of seven exploration wells and the completion of both 2D seismic programs currently underway. The Corporation continues to seek out and is committed to new venture opportunities in Indonesia.
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand, Indonesia and in Western Canada.(end of excerpt)