Quest Petroleum (ASX: QPN) has identified four new and very...

Quest Petroleum (ASX: QPN) has identified four new and very lightly explored sub-Basins within the Ranau Production Sharing Contract (PSC) in South Sumatra, Indonesia, with potential for oil and gas.

A joint study was carried out between Quest’s 80%-owned Prabu Energy and the Geology Department of Trisakti University, an Indonesian educational institution focused on the oil and gas industry.

These new sub-Basins form a significant extension of the prolific South Sumatra Basin and contain up to 3 kilometres of sediment.

The joint study comprised geophysical, geological and geochemical data from in and around the area, obtained from Indonesia’s main technical data repository, Patra Nusa Data.

As a result of the study, Quest has determined that the sub-Basins have sufficient thermal maturity to generate oil and gas.

In addition, the study delineated four structural leads within the Jaya and Ratu sub-Basins that Quest will further define as drill targets with 2D seismic, prior to the start of drilling later this year.

The Ranau PSC covers a large area of 2,123 square kilometres in a hydrocarbon rich region, and is virtually unexplored.