Oilex Gets Positive about Pendalian, to Acquire Seismic

Oilex Ltd reports that the Pendalian-3 appraisal well has been drilled, tested and suspended as a future oil production well. While the Central Sumatra field was first discovered in 1993, the Pendalian-3 well was spudded in September 2007.

Three out of four tests on the well pointed to commercial rates on the well, and it successfully tested oil from two intervals. The well tested at approximately 1,200 bo/d for a combined potential rate from two zones.

The company now plans to acquire a 3D seismic survey over the field to accelerate production from the well.

"It is intended that early cash flow generated by Pendalian production would be applied to the exploration of highly prospective trends that have been recognized on the block," the company stated in a release.