Cue Energy: Mahakam Hilir PSC operations update
Wednesday, May 16 2012 - 01:05 AM WIB
(16 May 2012) -- Cue Energy Resources Ltd is pleased to provide the following update regarding 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 olifield.
As of the 15th May 2012, the 12 1/4 inch section of the Naga Selatan-1 well had reached a depth of 5000 feet MD (measured depth) and wire-line logs were run. The wire-line logs are currently being evaluated, while preparing to run the 9 ? inch casing to section TD (Total Depth). The plan is to drill ahead in 8 1/2 inch hole to the well TD of 6500 feet.
The participants and their respective interests in the PSC are:
SPC Mahakam Hilir Pte Ltd (Operator) 60%:
Cue Mahakam Hilir Pty Ltd 40%(ends)