Capitalinc to drill two wells in 2017
Friday, December 30 2016 - 07:07 AM WIB
IDX-listed PT Capitalinc Investment Tbk announced that its subsidiary PT Kutai Etam Petroleum plans to drill a wildcat well called Bantuas-1 in Seinangka-Senipah block located in Loa Janan District, Kutai Kartanegara Regency, East Kalimantan, in April of 2017, a delay from the initial schedule of June 2016.
The company also said in a statement on Tuesday that its subsidiary PT Cahaya Batu Raja Blok plans to drill the AK-2/Selulu-1 well in the Air Komering block, South Sumatra, in April of 2017, a delay from the initial schedule of March 2016.
Kutai Etam Petroleum is the 100 percent owner of Seinangka-Senipah PSC.
PSC of the Air Komering block, which is located in Ogan Komering Ulu Selatan Regency, was signed on December 12, 2004. The block is 100 percent owned and operated by PT Cahaya Batu Raja Blok.
Editing by Reiner Simanjuntak