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Adavale Continues Drilling in Samboja, South Kalimantan

Theindonesiatoday.com - Adavale Resources Ltd confirms drilling program will continue in Samboja, South Kalimantan and other numerous field surveys in East and South Kalimantan. Meanwhile, negotiations in a number of projects have yet to be concluded.

Adavale carried out a 500m drilling in the Samboja area, held by PT Mitra Energi Agung, as part of commitment to secure interests in the concession. Drilling will still continue as the results were inconclusive.

The company also will commence exploration in a concession held by PT Gunung Mas Wisesa, East Kalimantan, in the fourth quarter, including mapping and first pass drilling.

Its existing Tapan project, West Sumatera, is in negotiations with parties to establish a joint venture and currently in under final phase to acquire the project.

In Lampung project, Adavale is still in renegotiating process of the agreement for the six separate concession areas. Meanwhile, Dimori project, East Kalimantan is on hold due to issues between the concession owner and other investors.

The company also will commence further work in Rizki Project (South Kalimantan) and Lumpo Project (West Sumatera) in the upcoming quarters. (Theindonesiatoday.com)


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