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Tradewinds Announces Indonesia Production

(Houston, Texas) Tradewinds Oil and Gas International, Ltd., a Texas limited partnership with Tradewinds Oil and Gas, Inc. as general partner, announced that its wholly owned subsidiary, PT. Radiant Energi Sukatani, has commenced producing gas, at the rate of 2.2 mmcfgpd, and some condensate from its STN #1 well at Sukatani Gas Field, West Java, Indonesia.

Tradewinds controls 100% of the contractor’s interest under a Technical Assistance Contract with Pertamina, the national oil company of Indonesia. The field has been idle since its discovery in 1982, when the STN #1 well was drilled to 8,380 feet and found commercial hydrocarbons in the Upper Cibulakan Zone, 14 A sand. At that time, the zone was tested at 11.7 mmcfgpd with 144.1 bcpd.

The field was never produced by previous owners, due to lack of market. Sukatani Field was acquired by Tradewinds through two acquisitions in mid year 2000 and late fourth quarter 2000. James E. Scott, III, president of Tradewinds said “when we acquired 100% control, we immediately began seeking a market; making plans to lay a four inch pipeline approximately 2.4 miles to a Pertamina 18 inch gas transmission pipeline; and designing gas processing facilities. All of that has been accomplished and production commenced within about eight months of gaining control of the field.” He added that “Tradewinds intends to re-evaluate its extensive seismic data base in combination with reservoir performance. A development plan for the producing zone, along with other untested zones that have been interpreted to be gas bearing, will then be generated.”

Tradewinds also owns interests in four additional oil fields in Indonesia, two of which are currently producing. The remaining two oil fields are expected to be on sustained production in the near future.

Other countries and areas where Tradewinds is currently active include China, Egypt, and South America. Through an affiliate, the company owns a 25% interest in the Gazwarina oil field operated by a unit of Marathon Oil Company in Egypt.

Tradewinds is focused on acquiring international undeveloped discoveries, underdeveloped fields, fields requiring rehabilitation and fields that are below the economic threshold of larger companies. Scott said, “we prefer producing properties with development, rehabilitation, improved oil recovery and enhancement opportunities as well as those with an exploration component, either operated or a non operated. International exploration projects, where the financial and work commitments have been met, are also of interest.”