Peak Oil & Gas Starts Seismic Activity at Sumatra Block

Peak Oil & Gas, a company listed in Australia, has announced commencement of seismic recording program at South Block A in North Sumatra, Indonesia.

The company also said that seismic data for the first line has been received.

“The 2D seismic survey will comprise around 170 line km of modern seismic data acquisition located to mature and prioritize the best seven oil and gas leads to prospect status, one of which will be selected for drilling next year,” the company said in a statement.

As per the company statement, seven oil and gas leads at the South Block A together provide an Unrisked P50 Prospective Resource of 439 BCF of gas and 47 MMBBLS of oil and condensate.

The largest of the gas/condensate leads has been mapped to have the potential to contain an Unrisked P50 Prospective Resource of 285.4 BCF Recoverable Gas and 15.9 MMBBLS Condensate, the statement said.

Peak expects the exercise to be complete by February 2014 and drilling through the second half 2014.

The company holds an effective 38.25% interest in the block.

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