Gulf, Talisman test wells

Gulf, Talisman test wells

DENVER (Dow Jones): Gulf Indonesia Resources Ltd and its
partners reported positive results from the Corridor Production
Sharing Contract area in south Sumatra, Indonesia.

In a news release, the company said the Suban 3 delineation
well, a 2.2-kilometer step-out from the previously announced
Suban 2 natural gas reservoir, shows a previously untested and
potentially significant shallower oil reservoir.

Gulf Indonesia, which holds a 54 percent working interest in
the Corridor Block Production Sharing Contract, is contract
operator for Pertamina, the Indonesian state oil company.

Gulf Indonesia said a 570-meter open-hole interval above 2,540
meters tested at daily rates of about 27 million cubic feet of
natural gas and about 200 barrels of condensate a day. It said
the upper 225 meters appear to be productive.