Quest finalizing 2013-2014 work program
Thursday, August 1 2013 - 04:34 AM WIB
ASX-listed firm Quest Petroleum is finalizing the work program for 2013-2014 with SKK Migas and expects to have this completed and approved by the regulator.
As part of the work program submission, the company has conducted an extensive review of the existing gravity data for the Ranau block, and has also engaged existing operators in the region who have provided valuable information for the planned work program, the company said in a quarterly report on Wednesday.
As part of this process Quest has located where existing seismic data is available on the Ranau block and is currently negotiating the purchase of this data that will add to this program.
The company had in the June 2013 executed a formal outright land purchase agreement with the owner of the land at Way Kanan in the southeast portion of the Ranau PSC in South Sumatra.
The agreement enables Quest to use the land for multiple purpose including exploration and future production wells and other facilities.
Editing by Dadan Wijaksana