Seruway PSC operator completes 3D seismic survey

MEO Australia Ltd said that its wholly owned subsidiary Seruway Offshore Exploration Ltd as the operator for the Seruway PSC has completed the acquisition of the Ibu Horst 3D seismic survey at the block, which is located in offshore northern Sumatra, the company said in a press release filed with the Australian Stock Exchange.

Seruway Offshore owns 100 percent working interest in the block.

The PGS seismic vessel M/V Pacific Explorer was demobilized at 12:11 pm (local time) on Jan 6, 2012. Full fold data was recorded over an area of 708 square kilometers and will now be processed prior to interpretation. The processed data is expected to be available early in the second quarter, the company said.

MEO Australia said the acquisition of this 3D seismic survey completes the 2011 work program commitment.

?It is expected that the 3D seismic survey will generate several drillable prospects from which to select a preferred location. Discussions are underway with drilling rig operators aimed at securing a suitable rig for this commitment well,? MEO said.

This year the operator will drill one exploration well in line with its commitment. (*)

Editing by Roffie Kurniawan