Carnarvon on Rangkas Block

Carnarvon Petroleum said a seismic survey of up to 500 Km at Rangkas oil and gas block is in planning for acquisition in the third quarter of this year. Based on the results of this seismic survey, the joint venture may commit to additional seismic and drilling in 2011-2012.

Carnarvon is the owner of 25% participating interest in Rangkas PSC. Others are Lundin Petroleum with 51% interest and Tap Oil 24%. Lundin is the operator of the PSC, located onshore West Java, southwest of Jakarta, and covers an area of 3977 Km2.

Previous drilling in the block and surface oil seeps confirm an active petroleum system. Several prospects and leads are identified in the block based on reprocessed 2D seismic data.

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