Citarum-1 well plugged and abandoned

Canadian oil, gas firm Pan Orient Energy Corp reported on Wednesday that Pasundan-1 exploration well in Citarun PSC onshore West Java is being plugged and abandoned after recovering formation water.

Pasundan-1 was a test of a high risk, high impact reef target, drilled approximately one year ago by the former operator of the Citarum PSC and targeting a very large seismically defined reef.

The well encountered approximately 500 meters of limestone section with 21 meters of cavernous reservoir in the upper portion. This upper cavernous zone, on the basis of this test, is now proven to be water bearing.

An approximately 800 km 2D seismic survey is currently underway, targeting several large, surface expressed leads independent of the target tested at the Pasundan-1 well.

Further exploration drilling is planned in late 2009.

Pan Orient is the block operator with 69 percent working interest. (alex)