Indonesia

By OGJ editors
HOUSTON, Jan. 21 – Locations are being cleared out of dense jungle for two exploration wells in the Lariang and Karama subbasins onshore central West Sulawesi, Indonesia.

Tately Budong-Budong NV, a subsidiary of Pexco NV, will operate the wells in the exploration phase on the 1.4 million acre Budong-Budong block. Harvest Natural Resources Inc., Houston, will fund the two wells up to $10.7 million to earn a 47% working interest in the block.

The companies completed interpretation of 650 line-km of 2D seismic in the second half of 2009. The first well is to spud in mid-March 2010. The wells seek oil in stacked Miocene and Eocene clastics in the West Sulawesi fold belt.