Dart Energy Gets Bontang Bengalon CBM Block in Indonesia

Dart Energy International Pte Ltd, a wholly owned subsidiary of Dart Energy Limited, has been awarded the Bontang  Bengalon  coal bed methane  block in East Kalimantan, Indonesia. A Production Sharing Contract (PSC) for the block is expected to be signed with the Indonesian government within 1-2 months.

The Bontang Bengalon block is located in the middle part of the Kutei Basin in East Kalimantan, with a total area of 410.7 km2. The block is divided into two areas: the southern part being located adjacent to the Bontang LNG facility and the northern part is 62km north of that facility and adjacent to the Sangatta West PSC, in which Dart is a net 24% participant and joint operator.

Dart will be operator of the block with a 100% working interest. The PSC term will be for 30 years. In the initial three year exploration period, Dart intends an exploration work program consisting of 3 core wells and 1 pilot well. First work is expected to commence in mid to late 2013.