MCube acquires two blocks off Indonesia

By OGJ editors
HOUSTON, May 8 -- MCube Petroleum Inc., Seattle, has obtained the Halmahera and Rembang Blocks off Indonesia through its 100% equity acquisitions of Halmahera Petroleum Ltd. and Orna International Ltd.

It acquired the rights to operate the Halmahera Block through December 2333 and to operate the Rembang Block through October 2033.

The acquired blocks, comprising about 11,000 sq km, have combined estimated reserves of 5.33 tcf of gas and 2.1 billion bbl of oil.

MCube also operates three production blocks in Sumatra.

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