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FROM STO CHAIRMAN:

“Potentially the most significant result was the Jeruk oil discovery in Indonesia which will shortly be further evaluated by the re-entry and sidetracking to the north-west of last year’s successful Jeruk 2 well,” he said.

“This work will allow us to further evaluate reservoir information from a location between the existing Jeruk 1 and Jeruk 2 wells. In particular, core samples and
production testing will assist in better defining the reservoir and fluid properties, as well as providing information needed to right size potential production facilities.
“We have also acquired 3 dimensional seismic over the Jeruk field and surrounding areas, and depending on the interpretation of this data, rig availability, and approvals, we plan to drill additional appraisal wells, possibly starting in the fourth quarter of this year. This seismic should also assist in defining new exploration opportunities

“Options for potential early production from the Jeruk field are also being evaluated.”


Interesting, and hopefully profitable, times ahead.
R,