Todd Exploration Management Services has secured a ten-year permit for the exploration block. Credit: blake.thornberry.

Sonoro Energy’s wholly owned subsidiary Zamatra Bakau Straits and its Indonesian partner have commenced operations of the Selat Panjang oil and gas concession.

Located in Riau province, central Sumatra, the 940km² Selat Panjang PSC is 120km south-west of Singapore.

Indonesian upstream oil and gas regulator (SKKMigas) is the field operator of the concession.

The co-partners are currently in the process of analysing the project’s technical data and expected to create a proposed work plan and budget.

Following approval from the partners, the final work plan will be submitted to SKKMIGAS according to the project agreements and a 51-101 compliant reserve report will be produced upon the internal review of the subsurface data.

As part of the execution of the Selat Panjang production sharing contract (PSC) last month, Sonoro holds a 25% interest in the PSC with an option to acquire an additional 24% after the completion of project milestones. The company will serve as the operator of the project.

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With a 20-year term, the Selat Panjang PSC has an initial five-year work programme commitment of $74m.

In a statement, Sonoro Energy said: “The partners aim to implement a drilling program as soon as practically possible to reactivate previous wells where feasible and to commence drilling on new prospective targets.”

Sonoro Energy also mentioned that it has granted 0.35 million stock options to directors, management, employees and consultants, priced at $0.07 a share, for a period of five years.