Tests from the F1-47/02 well yielded a combined flow of 7,215 barrels a day (b/d) of crude oil, giving the company total output of 67,000 b/d from its first four wells. Verenex, the operator of Area 47, has recently finished flow testing of a fifth well and expects to complete a further two wells by the end of 2007. Verenex holds the block with Indonesia’s Medco Energi Internasional under a 50:50 joint venture exploration agreement signed with state-owned National Oil Company in March 2005 (MEED 27:4:07).