Sound Oil expects seismic works at W. Java block to start shortly

UK oil, gas firm Sound Oil Plc expects US$7 million seismic works in Citarum PSC onshore West Java to commence shortly after Canadian firm Pan Orient Energy took over last week 69 percent interest and operatorship in the block from Malaysian firm Ranhill Berhad.

Gerry Orbell, Sound Oil's Chairman said on Wednesday: "This is a satisfactory conclusion to a period of inactivity caused by the non-payment of cash calls by our previous partners in the Citarum PSC which resulted in their default. The Operator now has access to the financial resources to move the PSC forwards and has indicated that it wishes to pursue the work programme as quickly as we do. We look forward to working constructively with Pan Orient and anticipate that work on the previously approved US$7 million seismic programme will start shortly and that the Operator will bring forward plans to drill stem test the cavernous zone in the suspended Pasundan well."

The Citarum PSC is an exploration area of over 4000 sq km, situated to the south and east of Jakarta. The Pasundan 1 well was drilled between 9th May and 27th September 2007. (alex)