Capitalinc to drill 2 wells at exploration blocks
Wednesday, May 17 2017 - 12:52 AM WIB
IDX-listed firm Capitalinc Investment Tbk reported on Tuesday that it planned to drill two wells at its exploration blocks in South Sumatra and East Kalimantan this year.
The company plans to spud AK-2 delineation well in Air Komering PSC onshore South Sumatra in September. In 2015, the company has drilled AK-1 wildcat well which flowed 5.4 MMCFD from upper zone and 3.3MMCFD from lower zone.
The company will also drill wildcat well called Bentuas at Seinangka-Senipah block onshore East Kalimantan in October.
The company said that land acquisition had been completed and will be followed by drilling site preparation.
Capitalinc?s subsidiary PT Cahaya Batu Raja Blok has 100 percent interest in Air Komering PSC and another subsidiary PT Kutai Etam Petroleum has 90 percent interest in Seinangka-Senipah PSC.