"In 2H 2007, three exploration wells are planned to be drilled(by the Seram JV) and a 293km 2D seismic survey will be conducted with total expenditure of US$16.7million. The exploration wells are estimated to have reserves of 26 million barrels."
CITIC Resources Holdings Limited - Extract from Interim(Half Yearly) Report 2007(page 24).
Citic has 51% in Seram JV & Lion has 2.5%.
Shareprice will triple once drilling commences as there are so few shares available.
drilling three wells this quarter
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