Sound Oil plc (Sound Oil) said the partnership is currently conducting a 1,250 kilometers (km) seismic survey on the block which is intended to fulfill the 750km (years 1-3) and 500km (year 4) seismic commitments on the Citarum production sharing contract (PSC) area, located in West Java, Indonesia. The first phase of the survey comprising 850km in the eastern areas of the block is anticipated to be completed in the third quarter of 2009.
Currently, the survey contractor has suspended operations until May 31, 2009 at no incremental cost to the partnership, pending upgrade of equipment. The interpreted seismic results will be used to determine drilling locations for the remaining three exploration commitment wells on the PSC.
Sound Oil is a 20% partner (through its wholly owned subsidiary, Mitra Energia Citarum Limited) in the Citarum PSC, located in West Java, Indonesia. The PSC is operated by Pan Orient Energy Citarum Limited (a wholly owned subsidiary of Pan Orient Energy Holdings Limited).
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