Peak Oil & Gas Gets Positive Results from Sumatra Block

Peak Oil & Gas has used new mapping and a prospectivity review to identify 'high potential leads' with aggregate unrisked mean Prospective Resource of 738.5 BCF gas and 63.8 MMBBLS oil and condensate in North Sumatra, at South Black A (SBA), Proactive Investors has reported.

Seismic operations commenced to mature six oil and gas leads to drillable status prior to drilling of first exploration well early next year, Proactive Investors said.

Highlighting the prospectivity of the area, the North Sumatra Basin contains proven hydrocarbons with gas and oil flows from old wells. Previous exploration focussed on shallow oil with little interest in gas.

A significant new gas discovery (Matang-1) across block boundary flowed 25 MMCFD. SBA is located close to key infrastructure such as pipelines and facilities.