Western Monarch Commences Seismic Survey in Tanjung Aru PSC off Kalimantan

KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, announced Monday that the Western Monarch seismic vessel has commenced a 193 square miles (500 square kilometers) 3D seismic acquisition program in the Tanjung Aru production sharing contract (PSC) offshore Kalimantan, Indonesia. The seismic program began March 24.

The Tanjung Aru PSC covers 1,618 square miles (4,191 square kilometers) in the Makassar Strait where water depths range from 65 feet (20 metres) to over 3,280 feet (1,000 meters). Three exploration wells have been drilled to date in the current outline of the Tanjung Aru PSC, of which two encountered gas. Since being awarded operatorship of the contract area in 2011, KrisEnergy has been working to integrate existing 2D and 3D seismic data, review the volumetrics of existing discoveries and undertake petrophysical analysis of the three previously drilled wells.

Chris Gibson-Robinson, KrisEnergy’s director Exploration & Production, said: “The Tanjung Aru PSC adds to our series of gas exploration efforts in Indonesia. The little exploration that has been undertaken by a previous operator is encouraging and we expect this new seismic data will help us to identify and map several more prospects and leads in the portion of the block that lies in the shallower areas.”

KrisEnergy holds a 43percent operated working interest in the Tanjung Aru PSC and is partnered by Neon Energy Ltd, which holds 42 percent, and Natuna Ventures Pte Ltd with 15 percent.


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