Petroleum (stock code: 8011) provides the following information on the Markisa-1 exploration wells in Block M, onshore Brunei Darussalam

Location
Block M covers an area of approximately 3,011 km2 in the Baram Delta Basin and is the largest onshore permit in Brunei. The Block contains the Belait oil and gas field, but is under-explored having not seen a concerted exploration effort during the past 20 years.

Progress
Markisa-1 reached a total depth of 1,300m measured depth and wireline logging, sampling and side wall coring operations have been completed. The well has been suspended with a string of 7” production casing cemented to surface and a wellhead installed. The rig was released at 18:00hrs on 14 October. Markisa-1 is the last well in the current Block M drilling program and demobilisation of the drilling rig and associated drilling services is in progress.

Results
Both Mawar-1 and Markisa-1 encountered hydrocarbons. Both have been cased and suspended in anticipation of future activity.Studies are now underway on data acquired from both wells to determine the implications of the hydrocarbons encountered and to plan the most appropriate future course of action.

Updated：2010-10-18