PEARL seeks to farmout newly acquired E. Java block
Monday, November 14 2005 - 09:06 PM WIB
Singapore-based E&P firm PEARL Energy is seeking to farm-out part of its 85 percent working interest in Bulu PSC offshore East Java.
The company said in a presentation material filed with Singapore Exchange that the company is seeking potential farm-in partner. The company, however, did not say the percentage of interest it sought to farm-out.
PEARL acquired 85 percent interest and operatorship on Bulu block last month from local firm PT.Petroland Energi.
PEARL plans seismic acquisition on the block in late 2005 with a view to drill one exploration well in 2006. (alex)