Last checked at 6 May 2009 11:00
6 May 2009
Citarum PSC Operations Update: Seismic Acquisition
Sound Oil plc is a 20% partner (through its wholly owned subsidiary Mitra Energia Citarum Limited) in the Citarum PSC, located in West Java, Indonesia. The PSC is operated by Pan Orient Energy Citarum Limited (a wholly owned subsidiary of Pan Orient Energy Holdings Limited).
The partnership is currently conducting a 1250 km seismic survey on the block which is intended to fulfill the 750 km (Years 1-3) and 500 km (Year 4) seismic commitments on the PSC. The first phase of the survey comprising 850 km in the eastern areas of the block is anticipated to be completed in 3Q 2009. Currently the survey Contractor has suspended operations until 31 May, at no incremental cost to the partnership, pending upgrade of equipment. The interpreted seismic results will be used to determine drilling locations for the remaining three exploration commitment wells on the PSC.
Dr Michael Cope BSc PhD CGeol, Head of Exploration at Sound Oil, a Chartered Geologist in the United Kingdom, has reviewed the technical information contained in this news release.
Contacts:
Gerry Orbell, Chairman, Sound Oil plc
Tel: +44 (0)7903 861145
Dr A Basirov/David Jones, Smith & Williamson Corporate Finance Limited
Tel: +44 (0)207 131 4000
Tim Thompson/Nick Melson - Buchanan Communications
Tel: +44 (0)207 466 5000