Cue: Drilling at Naga Selatan indicates potential
Thursday, July 19 2012 - 02:13 AM WIB
Australian oil, gas firm Cue Energy Resources Ltd announced that during the drilling from April to June, drilling at Naga Selatan well within the Mahakam Hilir PSC in the Kutei Basin, was extended from 6,500 to 8,300 feet responding to hydrocarbon shows.
Cue said in its operation update that the well has now been plugged and abandoned, but results indicate significant up-dip potential. The well operator is SPC Mahakam Hilir Pte. Ltd.
The Naga Selatan (Southern Dragon) prospect is situated approximately 7.5 km to the west of the producing Sanga-Sanga oil field. SPC Mahakam holds 60 percent interest in the project, with Cue?s unit, Cue Mahakam Hilir Pty Ltd holding the balance.
Editing by Dadan Wijaksana