Indonesia

Tap Oil Ltd., Perth, plans to earn a 24% interest in the 3,977 sq km Rangkas block onshore West Java, Indonesia, from Lundin Petroleum AB, Stockholm, the operator.

By OGJ editors
HOUSTON, Nov. 30
– Tap Oil Ltd., Perth, plans to earn a 24% interest in the 3,977 sq km Rangkas block onshore West Java, Indonesia, from Lundin Petroleum AB, Stockholm, the operator.

Previous exploration seismic and drilling in the block, along with the presence of surface oil seeps, indicates the presence of an active petroleum system. Recent reviews of the block, including seismic reprocessing, resulted in Tap and its proposed joint venture partners concluding that the previous wells were not valid tests of the prospectivity.

Leads identified on 2D seismic data will be the target of a new seismic survey of up to 500 line-km in the first half of 2010. Depending on results, the joint venture may commit to additional seismic and drilling in 2011-2012.

Block interests are Lundin Rangkas BV 51%, Carnarvon Petroleum (Indonesia) Pty. Ltd. 25%, and Tap Oil 24%.

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