Pant Orient updates Indonesian ops
Thursday, February 10 2011 - 01:23 AM WIB
Batu Gajah PSC, onshore Jambi (Pan Orient 90% Working Interest and Operator)
Steady progress was made through the latter part of 2010 on the land purchase, location construction, contract awards and approvals for the three well exploration program at the Batu Gajah PSC. Construction is approximately 50% and 80% complete on the SE Tiung-1 and Betano-1 locations, and has just commenced on Tuba Obi Utara-1 location. The Tuba Obi Utara-1 well will be the first well drilled in the program and is expected to commence on approximately March 15, 2011 and take approximately 21 days to total depth. The Tuba Utara-1 well will be immediately followed by wells at SE Tiung-1 and Betano-1.
Front end work also continues on a contingent three well program at Batu Gajah that would commence in late 2011 targeting new prospects and / or an appraisal of any success in the initial three well program. Another contingent item currently being worked on and being steered through the approval process includes 400 square kilometers of 3D seismic.
Citarum PSC, onshore West Java (Pan Orient 69% Working Interest and Operator)
Work at the Citarum PSC is currently focused on the purchase of land for three drilling locations selected and approved in 2010. The current time table for the commencement of drilling the first of three wells is late in the third quarter or early in the fourth quarter of 2011.(end of excerpt)