Ona to concentrate on Keluang oil field in Indonesia
2006-04-21 12:32 ET - News Release
Mr. John Wong reports
Ona Exploration Inc., further to Stockwatch news March 17, 2006, held a site meeting in Jakarta, Indonesia, with an independent petroleum engineer from Calgary, agents of PT Petro Muba and Sinopec, and Victor Childs and Associates, oil and gas consultants from the U.K. The purpose of the meeting was to evaluate the ultimate oil recoveries from the Dutch oil wells project which comprises the Keluang oil field, the Suban Baru oil field and the Karang Ringin oil field within the corridor block of the profit-sharing contract area surrendered by Conoco Philips to PT Petro Muba. Based on the partial data acquired from PT Petro Muba, all parties to the meeting agreed to concentrate initially on the Keluang oil field. The Keluang oil field was discovered by BPM in 1900 and produces oil from middle-Miocene sandstones. Of the 57 existing wells with known data, 44 are classified as production wells. Currently, through primitive efforts by the local farmers, 15 wells are still producing a total of 75 barrels of oil per day from natural flows to surface.
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