GeoPetro spuds fourth well in Bengara-II

GeoPetro Resources Company announced that its 12% owned Indonesian subsidiary Continental-GeoPetro (Bengara-II) Ltd. (”CGB2″) has commenced drilling on the Punga #1 exploration well.

The Punga #1 is the fourth well to be drilled as part of the 2007 drilling program for the Bengara-II Block, onshore East Kalimantan, Indonesia. Drilling of the Punga #1 is planned to a total depth of 2,800 meters (9,186 feet).

The Punga #1 will test a large, seismically mapped structural culmination at a location approximately 16 miles southeast of the Seberaba #1 exploration well location, and approximately 12 miles southeast of the Seberaba #4 appraisal well location.

Meanwhile, drilling continues on the Seberaba #3 and Seberaba #4 appraisal wells and testing continues on the Seberaba #1 wildcat.