Novus, Lapindo Brantas commence East Java drilling campaign

Australian listed oil and gas firm Novus Petroleum together with its partner Lapindo Brantas had commenced drilling of the Tanggulangin-1 exploration well in Brantas production sharing contract (PSC) area in East Java.

?Drilling commend on September 20 and had reached 232 meters on September 24,? said Novus in a statement Wednesday.

Novus expected to drill Tanggulangin-1 to the depth of 1,091 meters in 13 days.

Novus said the well is the first out of three well campaigns in the Brantas PSC, which will progress sequentially through the fourth quarter.

?Each prospect is located near the currently producing Wunut gas field and thus discoveries can be quickly connected to the gas distribution system. Drilling is targeting low-risk, Wunut ?look-a-like? exploration in the onshore part of the block,? said Novus.

After completing Tanggulangin-1 well, said Novus, drilling would move the second well Grati-1, which is located some 40 kms Southeast of Wunut and is in close proximity to state electricity?s combined cycle power plan which could provide a ready market for the gas that might be discovered.

The third well to be drilled is Carat, which is located some 5 kms to the south of Wunut.

Novus estimated the combined recoverable gas reserve for the three wells at 200 billion standard cubic feet.

Novus holds 50 percent working interest in Brantas PSC, while local oil and gas firm Lapindo Brantas, the PSC operator, holds the remaining 50 percent. (alex)