Asamera finds oil

JAKARTA (JP): Asamera Oil Ltd, a subsidiary of Gulf Canada Resources Limited, has struck a new oil reserve in the wildcat Pijar-1 of its Corridor Block production sharing contract area in South Sumatra.

The state-owned oil company Pertamina, which has a 10 percent interest in the Corridor Block, said in a statement over the weekend that two zones on the Pijar-1 well had been tested.

One zone produces 470 barrels of oil per day, while the other one produces 3.5 million cubic feet of natural gas and 265 barrels of condensate per day.

The oil find is very encouraging, considering that its adjacent block -- Calik Block -- is supposed to hold a similar reserve, the statement said.

Gulf Canada Resources Limited, through its subsidiary Asamera, has a 54 percent interest in the Corridor Block, while Talisman Energy Inc. has 36 percent. (13)