Kambuna drilling concludes

Offshore staff

LONDON --Serica has completed development drilling on its Kambuna project off North Sumatra. The third well, Kambuna 4, was drilled from the wellhead platform to a subsurface location 2,180 m (7,152 ft) south of Kambuna 2.

The well entered the targeted Belumai reservoir at a TVD below sea level of 7,140 ft (2,176 m), encountering gas-bearing sands over an interval of 115 ft (35 m) with a net pay of 107 ft (32.6 m).

Over the next few weeks, Serica plans to perform production tests on the three wells before shutting them in while development works continue. The development work includes installation of an off- and on-shore pipeline and onshore production processing facilities.

First gas from Kambuna is scheduled at year-end. The latest reserves estimate suggests proven and probable gas-condensate of 29.7MMboe.

04/25/2008