abce certificate
New Articles
Thursday, 21 August, 2008, 20:50 GMT | more prices >>

Oilex rides into Sumatra PSC



By Upstream staff 

Australian junior Oilex Ltd has entered into an agreement to purchase from Sumatera Persada Energi a 45% interest in the West Kampar production sharing contract onshore Sumatra, Indonesia.

The Block has an existing oil discovery that can be brought into production quickly if justified by appraisal drilling as well as a number of highly prospective structural trends that will be the subject of an intensive exploration program, Oilex said.

As part of the purchase agreement, Oilex will refund certain past costs and fund the drilling of the Pendalian-3 exploration/appraisal well, planned for July.

Oilex will also fund the cost of acquiring 2D and 3D seismic work commitment programmes.


Monday, 28 May, 2007, 06:41 GMT  | last updated: Monday, 28 May, 2007, 06:41 GMT

e-mail this article to a colleague


to email:  from:
comments: