JAKARTA, Indonesia, July 24 /PRNewswire-FirstCall/ -- Continental
Energy Corporation (OTC Bulletin Board: CPPXF) today announced that its 18%
owned Indonesian subsidiary Continental-GeoPetro (Bengara-II) Ltd. ("CGB2")
has called for tenders for a third drilling rig to provide turn-key,
integrated drilling services to drill wells on the Bengara-II PSC, onshore
East Kalimantan, Indonesia.
CGB2 expects to award the drilling contract around the end of August.
The third rig will allow for intensification of the 2007 drilling
program and will facilitate rapid evaluation of the large, fault bounded
structure currently being tested by the Seberaba-1 well.
About Continental Energy Corporation:
Continental Energy Corporation is a small oil and gas exploration
company, focused entirely on making a major oil or gas discovery in
Indonesia. For further information, please visit our web site at
http://www.continentalenergy.com.
No securities regulatory authority has either approved or disapproved
the contents of this news release.
Certain matters discussed within this press release may be
forward-looking statements within the meaning of the "Safe Harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
Although Continental believes the expectations reflected in such
forward-looking statements including reserves estimates, production
forecasts, feasibility reports and economic evaluations are based on
reasonable expectations and assumptions, it can give no assurance that its
expectations will be attained. Factors that could cause actual results to
differ materially from expectations include financial performance, oil and
gas prices, drilling program results, regulatory changes, political risk,
terrorism, changes in local or national economic conditions and other risks
detailed from time to time in Continental's periodic filings with the US
Securities Exchange Commission.
For more information please contact: Jim Eger at 877-762-2366, Suite
1200, 14001 Dallas Parkway, Dallas, Texas, 75240
SOURCE Continental Energy Corporation
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Related links:
http://www.continentalenergy.com
CONTACT:
Jim Eger of Continental Energy Corporation,
+1-877-762-2366, info@continentalenergy.com
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