Canadian firm finds no oil

Canadian firm finds no oil

JAKARTA (JP): Canadian oil and gas company PT Canadian
Petroleum Manna Ltd. had failed to find oil deposits during its
exploration activities off the coast of Manna in the southern
part of Bengkulu province, a provincial official said on Monday.

Head of the province's Oil, Power and Renewable Energy Office
Soegito was quoted by Antara as saying the company had drilled to
a depth of 2,120 meters in quartz areas of the Baturaja and
Talang Akar formations.

He said the company had asked state oil and gas company
Pertamina to declare its Kobra I well dry.

The company's failure to find oil deposits in the area was
surprising given the fact that satellite surveys indicated that
the area contained oil, Soegito said.

"Satellite technology may not be sophisticated enough so that
it still produces errors," he said. (02)