Tately, Harvest seek to extend exploration of Budong-Budong block

By Romel S. Gurky

Tately Budong-Budong N.V., the operator of Budong-Budong Block onshore West Sulawesi, and its partner Harvest Natural Resources Inc., are planning to submit request for a four year extension in exploring the block.

?The license commitments have been fulfilled and the partners are planning to request a four year extension at the end of the initial six year term which expires on January 16, 2013,? Harvest said in a statement.

Harvest said prospects and leads are being matured for both the Lariang and Karama basins.

In June last year, the second exploratory well in the Budong-Budong PSC, the KD-1, located approximately 50 miles south of the Lariang-1 (LG-1) was spudded.

The company said it is currently planning to drill one more exploration well in 2013.

Editing by Roffie Kurniawan