Continental Energy: Bengara-II Contract Awarded
Continental Energy Corp.
Continental Energy Corporation said that its 18% owned Indonesian subsidiary Continental-GeoPetro (Bengara-II) Ltd. (CGB2) has awarded a turn-key, integrated drilling services contract to drill and test Seberaba-1, the first of four exploration wells planned for 2007 on the 3,650 square kilometer (900,000 acre) Bengara-II Production Sharing Contract, onshore East Kalimantan, Indonesia.
Indonesian drilling contractor PT Indo Sichuan Petroleum was awarded the contract and will deploy a 1,500 horsepower land drilling rig for the job. Mobilization of the rig and equipment to the drillsite is underway with drilling to commence in March 2007.
Drilling of the 4,200 meter (13,780 foot) Seberaba-1 well is expected to take up to 70 days at a cost of over US$6 million. The four well drilling program is fully funded, as detailed in Continental's earlier press release dated October 11, 2006.
Continental Energy Corporation is an independent oil and gas exploration company, focused entirely on making a major oil or gas discovery in Indonesia.
RELATED COMPANIES
Most Popular Articles
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- Analyst Says USA Influence on Middle East Seems to be Fading
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally