Indonesia

By OGJ editors
HOUSTON, Mar. 2 – Indonesia approved acquisition by Tap Oil Ltd., Perth, to acquire a 24% interest in the 3,977 sq km Rangkas Block onshore West Java, Indonesia, from Lundin Petroleum AB.

Previous seismic and drilling and the presence of oil seeps indicate the presence of an active petroleum system. A seismic survey of up to 500 line-km is planned for the first half of 2010 to target a number of leads identified in recent reviews of the block.

Those reviews led Tap Oil to believe that significant potential, including previously unrecognized deep targets analogous to proven production in adjacent blocks, remains.

Lundin Rangkas BV is operator with 51% interest, and Carnarvon Petroleum (Indonesia) Pty. Ltd. has 25%.