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Peako Ltd

Raisama Energy to acquire 2D seismic over Indonesian oil and gas block

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Raisama Energy (ASX: RAI) will start shooting 170 kilometres of 2D seismic in March 2013 to mature its inventory of leads and prospects in its South Block A production sharing contract onshore northern Sumatra.

Acquisition is expected to take about four months with results due in August or September this year.

Drilling is expected to begin early next year.

Raisama’s 51% share of expenditure is around $2 million and is covered by the recently placement to the Albers Group.

South Block A is located within an existing petroleum system with abundant oil and gas near existing downstream infrastructure.

 

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