Oil expert opinion wanted

  1. 785 Posts.
    From an announcement from Citiview.
    What does 'reserves of 25 BCF' mean? Cubic Feet?
    Is 25 big?

    Thanks,

    MEDCO HAS RELEASED THE FOLLOWING PRESS STATEMENT:

    "Pidawan-1 exploration well was spudded on 1st March 2002 and
    completed 17th July 2002. The well is a gas discovery well located in
    Simenggaris JOB Block, N E Kalimantan, near Tarakan Island. Total
    depth of the well is 7504ft. Preliminary estimated reserves based on
    the Pidawan-1 well is 25 BCF. Potential market for the gas discovery
    includes the Bunyu Methanol Plant and power generation in Tarakan
    Island."

    In addition to the above Medco have advised that they are now
    conducting a feasibility study on the building of a pipeline from the
    Pidawan location to Tarakan Island in order to market the gas.

    CityView is free carried by Medco throughout the current work
    programs and has a 25% gross interest in both Blocks
 
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