And the good news...THAILAND OPERATIONS UPDATE
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Concession L44
The Bo Rang"B" horizontal development well BR-4D1 is currently approaching total depth. This is the second horizontal to be drilled into this field with two more horizontal wells planned to be drilled and tested prior to year end. Testing is still underway way at Si Thep-2 with results to be reported when completed in approximately 10 days.
Thailand production volumes for the third quarter of 3,648 BOPD were consistent with the previously announced guidance of 3,300 to 3,700 BOPD. Current production is approximately 3,835 BOPD with an additional 300 BOPD, ( 4,135 BOPD total production capacity) currently shut-in until the granting of a new production license over Bo Rang, L44-W and NSE-F1,anticipated in late December 2009. Three additional Bo Rang "B"horizontal development wells are anticipated to be drilled and tested prior to year end. The Company anticipates an exit production rate for 2009 of between 5,000 to 6,000 BOPD as stated at the end of the second quarter.
Production is anticipated to ramp up in early 2010 upon the approval of approximately 18 multi-well surface drilling pad locations at Bo Rang "B", L44-W and NSE-F1 in late November and the granting of a new production license by year end.
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Concession L53
L53-A,The first of two exploration wells to be drilled in concession L53 prior to year end 2009 is currently drilling ahead at a depth of 1,270m total depth and is anticipated to finish drilling in the next 10 days. Immediately upon completion of L53-A, drilling will commence on theL53-D prospect.
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INDONESIA OPERATIONS UPDATE
Seismic programs are currently underway in both Batu Gajah (POE: 90% WI) and Citarum (POE-69% WI) production sharing contracts. Completion of both programs is anticipated in Q2/10 and a multiwell exploration drilling program to commence in both contracts in the second half of 2010.