more on seruway

Getting very excited about Seruway. This is very interesting.

http://alswebpage.netfirms.com/jaksbit/Simco/Seruway_PSC-_Gurame_Deep_Well.pdf

Just catching up on Gurame, and came across what MEO are also looking for in the Ibu Horst, currently the subject of a 3D survey.

IbuA has been proven downdip of structure and is targeting reserves of 600Bcf and 25million barrels of oil.

Following the Gurame Deep appraisal, the next target should be Ibu-A. This is a multi-level appraisal
prospect with a recoverable gas potential of about 600BCF on the upper section and 25million barrels of
oil in the deeper intervals. An old well, NSO-2N has proven about 120 BCF in the Seurula formation but
was drilled too down-dip from the additional closures at Keutupang, Baong and Peutu formations to test
those formations. Ibu-A has already been mapped using a closely spaced 2D grid and a drilling location
has been picked. The prospect will benefit from the acquisition of 3D seismic that will improve mapping
and further de-risk the various reservoirs.


I've also found reference to a structure on trend, to the immediate north of KL, that DM was talking about at the AGM. The new prospect looks low risk and is 2.3Tcf in size.

Transworld has developed a further high potential prospect along Ibu Horst. This prospect is in effect
the Northern extension of Kuala Langsa and assumes a stratigraphic pinchout of the reservoir on the
Basement. The P50 potential recoverable gas (methane) of this feature is 2.3TCF (this is in addition to
any Kuala Langsa reserves mentioned above).Further prospects include structural closures identified in
the Eastern side of Block. These features are on trend with existing discoveries and fields outside the
block and provide a string of follow-up targets to be matured to drillable prospects.

At P90 there is apparently ~12.6Tcf of recoverable gas and a huge amount of condensate and oil.

The fiscal terms in the document are equally impressive.

I don't know how MEO landed this, but this is a company-maker.