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Gold/Mining/Energy : Tracer Petroleum (TCXXF)

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To: Peter G. Troyan who wrote (453)	1/31/1998 9:14:00 PM
From: Dave K	Read Replies (2) of 1261

Jim, clearly one of us needs some help with geography. Feel free to correct me but here is how I see the maps.... Balikpapan (as shown on the maps) is located in east of Kalimantan. Use this town as a reference to tie the Unocal map with where North Tanjung Block is located. The Unocal map is not clear but you can see the Mahakam river "Delta" (the bump into the sea) just north of Balikpapan. Around this Delta is where Unocal is having their oil and gas success. The North Tanjung Block (Tracer's Block) is located in the Barito basin in the province of south and central Kalimantan. It is roughly 125 miles south west of Balikpapan. The maps have Km scales where you can get a better idea of distance. Don't know how you arrived at East Tanjung and South Borneo ? Here is the SOUTH Map of Kalimantan....which shows the Barito River and where the NT Block is located. users.powernet.co.uk What does this all mean to Tracer finding oil ? Absolutely Nothing. What are these maps intended illustrate ? Roughly 100-200 miles north east (and maybe closer to the east ?) of the NT Block, Unocal has made some worthwhile oil/gas discoveries and continues to find more oil in the offshore waters. Balikpapan has the refinery where the 20" pipeline from the Tanjung oil field (just south of NT block) connects. Bontang (North of Balikpapan) has one of the largest Liquefied Natural Gas plants in the world. At one time Unocal had a map showing all these oil finds and additional areas to the east AND south of the island where they planned to continue drilling. This map is inaccessible now for some reason. Unocal's supergiant Attaka field reported gross daily production of more than 90,000 barrels of oil and 250 million cubic feet of gas. All of the production is in water depths of less than 300 feet. A few things come to mind... maybe an "oil man" can shed some light on this: * A Tracer/Unocal JV on the NT block would make an excellent fit. Why has this not happened Mr Viggers (M.P.) ? * Unocal is using 3D seismic whereas Tracer is using 2D. * Most of Unocal's wells are in 300-2,000 feet of water with a total measured depth around 10,000 ft. Tracer has never drilled deeper than about 3,500 ft (Patas No. 1) as I recall. * If Tracer horizontally drilled 100 miles or so E or NE into Unocal's offshore fields, we could all retire. What do you think, Pete ? Dave

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