Amanah Timur-1 to be drilled on Dec.30

By Romel S. Gurky

ASX-listed Lion Energy Limited announced that it was informed by the operator of South Block A in Aceh province that Amanah Timur-1 well in the block was scheduled to be drilled on Dec. 30, 2016.

Lion Energy stated in its press release on Tuesday that following the recent earthquake and heavy rain, the rig owner, Pertamina Drilling Services Indonesia (PDSI), decided after site inspection to rig down and add additional support pilings as a precautionary measure to ensure the rig is on a stable base in the event of further geological activity.

The required pile driving equipment has been mobilized to the site and this work is expected to be completed by Dec. 25, 2016, following which a four day rig up was anticipated with planned spud around Dec. 30, 2016.

Lion, which has a 40.7 percent interest in the well, said that it fully supported the operator and PDSI in this precautionary work and there is only minor impact anticipated to the joint venture in the costs associated with the delay and site works.

Kim Morrison, Lion?s CEO said the success will be transformational for the Company. ?We are pleased to have clarity on plans for the precautionary site works and now eagerly anticipate the well spud. With the well anticipated to take only approximately 15 days, including time required for the anticipated testing, results will be received early on the new year,? he said.

Editing by Benget Besalicto ST