Cue Energy: Mahakam Hilir PSC operations update
Wednesday, May 2 2012 - 12:31 AM WIB
(2 May 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 1st May 2012, the Naga Selatan-1 well was drilled to 1556 feet MD (measured depth) and wire-line logs were acquired. The logs are currently being evaluated. The 13 3/8 inch casing is being set at 1556 feet MD and the rig will then drill the 12 1/4 inch hole section.
The participants and their respective interests in the PSC are:
SPC Mahakam Hilir Pte Ltd (Operator) 60%
Cue Mahakam Hilir Pty Ltd 40%.(ends)