tettering on the verge, page-40

Just found this article anyone aware?

http://www.macdonaldandcompany.com/quest-petroleum-gears-up-for-drilling-offshore-indonesia

Quest Petroleum of Australia is preparing to begin drilling in what it describes as the highly promising onshore Ranau block in Indonesia’s Sumatra. “Drilling rigs and materials are currently being sourced in preparation to drill,” Quest said in a statement to the Australian Stock Exchange where it is listed.

Seismic studies and other research in parts of the 2,200-square km block “identified four sub-basins and 16 highly prospective leads,” the firm said. Ranau is in the South Sumatra Basin adjacent to areas being prospected by ConocoPhillips and Santos. Quest acquired the block in 2011 after buying Merric Capital, whose subsidiary, Prabu Energy, had acquired the exploration and production rights.

“Quest is expediting an exploration programme commencing with the drilling of priority exploration wells,” the firm said in a statement. It will start with drilling in “three leads located within the Jaya sub-Basin” of the block. It is starting with a three-well programme.

Unconfirmed estimates from earlier studies suggest that the Ranau block could contain as much as 300 million barrels of oil as well as natural gas. Quest said the block contained four new, underexplored sub-basins. “Quest Petroleum is a new operator in Indonesia and has been very upbeat about prospects in its Ranau site. On paper it sounds interesting and encouraging but the proof will be in the results of the drilling programme,” Bangkok-based energy analyst Sar Watana told to AsianOil.

“The company has indicated that in addition to the large Ranau block it is looking at more prospective sites in Indonesia.” The firm, based in Subiaco in Western Australia, said it had an 80% share in Ranau with its Indonesian state partners.