Cue Energy: Mahakam Hilir PSC operations update
Thursday, April 26 2012 - 01:09 AM WIB
(26 April 2012) -- Cue Energy Resources Ltd is pleased to advise a progress update during the drilling of the Naga Selatan-1 well. The well is located within the Mahakam Hilir PSC in the Kutei Basin, Indonesia. The well operator is SPC Mahakam Hilir Pte. Ltd.
The Naga Selatan (Southern Dragon) prospect is situated approximately 7.5km to the west of the producing Sanga-Sanga oilfield.
As of the 25th April 2012, the Naga Selatan-1 well has been drilled to 768 feet. The 20 inch casing was set at 227 feet and the rig is drilling the 17% inch section of the well.
The participants and their respective interests in the PSC are:
SPC Mahakam Hilir Pte Ltd (Operator) 60%
Cue Mahakam Hilir Pty Ltd 40%.(ends)