Quest purchases land for drilling at Ranau

By Peni Pedriawan

ASX-listed firm Quest Petroleum NL announced on Monday it has signed an MoU to purchase the land which will be utilized for the first well to be drilled at its Ranau PSC in South Sumatra.

The MOU is made with the owners of land situated at Way Kanan, which is in the south east portion of the Ranau PSC, approximately 140 kilometers north-west of the South Sumatran capital, Lampung.

The proposed Prabu-1 drill site (formerly Kayumanis-1), is situated on well drained, elevated land adjacent to a paved asphalt road which allows good access to for drilling and completion operations. The drill site is situated on the edge of an identified structural high proximate to three significant sub-basins with clear potential for hydrocarbon generation.

The Prabu-1 Prospect is one of 16 leads identified in the Ranau PSC with combined potential of up to 6Tcf gas and/or 300 mmbbl oil. This prospect is located approximately 10km south of the town of Baradatu in the Way Kanan jurisdiction of Lampung, South Sumatra.

Negotiations have recommenced to finalize and execute the contract for the drilling rig, the company said in a filing.

Editing by Dadan Wijaksana