ChevronTexaco has oil finds off Cambodia

By OGJ editors

HOUSTON, Jan. 14 -- Chevron Overseas Petroleum (Cambodia) Ltd. (COPCL) has discovered oil in four exploration wells on its 55%-held Block A off Cambodia. Operator COPCL, along with partners Moeco Cambodia Ltd. (30%) and LG Caltex Oil Co. (15%), were awarded the 6,278-sq-km block, which lies in 240 ft of water, in March 2002.

Tests of the wells logged 41-139 ft of gross pay of 44° gravity oil. Additional tests will determine the potential for these finds to make Cambodia a producing country.

Pisnuka 1, which reached 11,874 ft TD, is the first of five wells in a COPCL drilling campaign that began October 13, 2004. The other wells include Sovann Phum 1, drilled to 12,232 ft TD; Sirey Sambat 1, reaching 11,712 ft TD; and Pimean Akas 1 at 11,660 ft TD. All four wells were drilled in the fourth quarter of 2004. The final exploration well is expected to be completed in February 2005.