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

Progress
The Mawar-1 well has been suspended with 7 inch production casing after reaching a total depth of 1,292 m MD. Further evaluation is now underway on the wire line logs, pressure and sample data obtained from the well. The rig is now being mobilised to the Markisa-1 exploration well which is located approximately 1 km from Mawar-1.Markisa-1 is expected to commence drilling in 7-10 days.

Location
Block M covers an area of approximately 3,011 km2 (see attached map) 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.

Updated：2010-09-17