Just reading report and I've made the following points which I find very impressive;
* Secured exploration acreage in onshore the South Sumatran Basin in Indonesia in 2011
*All five of the world’s largest publicly listed oil and gas companies (ExxonMobil, BP, Total, Chevron, and Shell) either operate or have expressed interest in further investment in Indonesia
*Santos is a neighbour to Quest Petroleum
*Saxon Palmer will be leading Quest though their exploration,&who was the exploration Manager Australia/Asia and Portfolio Manager for BHP Billiton.
*John Simpson is a new addition to the board & he also chairs ASX listed Peninsula Energy (PEN.asx), a uranium stock.
* Indonesia’s State-owned petroleum company - Pertamina EP - announced on the 20th February 2012 a new gas and condensate discovery in the Lavatera-1 well in the Pagardewa area of South Sumatra on 20th February 2012
*The Lavatera-1 well flowed 5.7 million cubic feet per day during production testing' &
Pertamina will prepare a production scheme for the Lavatera-1 well in early 2013
*This new discovery was made approximately 50km to the north of Quest’s owned Ranau PSC.
*Quest will will spend $6 million over the coming 12 months purely at the Ranau PSC,& the first vertical well will be drilled in June 2012.
*infrastructure nearby, with the South Sumatra-West Java pipeline, which is operated by state gas distributor PGN
Well, that's a second o&g company now in my portfolio, and very happy with it.
Holding; ANP,GGP,LOM,QPN
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