SYDNEY (Yosefardi) – Peak Oil & Gas Ltd informed Australia Stock Exchange this morning that SBA joint venture has identified high potential leads in the North Sumatra South Block A (SBA) for further seismic and analysis in preparation for drilling of one exploration well around second quarter of 2014.
“These leads are located in the prolific North Sumatra basin in close proximity to established pipelines and facilities,” Peak Oil said.
New mapping and prospectivity review identifies high potential leads with aggregate unrisked mean prospective resource of 738 BCF gas and 63.8 million barrels of oil and condensate.
Seismic acquisition is expected to be completed in third quarter of 2013. The seismic operation currently underway acquires over 170 survey line KM located to mature the oil and gas leads prioritized by the new mapping and prospectivity review.