Cue says Anggur-3 well in E. Java reaches 620 meters

Cue Energy Resources Limited said that on Friday, 31st August 2001, the Anggur-3 well, in the Sampang production sharing contract (PSC) offshore East Java, was at 620 meters and preparing to run intermediate wire line logs.

Cue said the well is programmed to a total depth of 2708 meters with drilling expected to take approximately 33 days on a dry hole basis.

According to Cue, Anggur-3 will target a number of shallow sandstones, one of which contained gas, which blew out when penetrated by the Anggur-1 well.

The well will also target limestones of the Mundu Formation that contain the oil and gas columns tested in the Oyong-1 discovery well.

The well will also target Wonocolo and Ngrayong sandstones. Oyong-2 encountered a 2 meter Ngrayong sandstone containing oil.

Santos holds operatorship and 45 percent working interst in Sampang PSC, while Coastal Indonesia Sampang and Cue hold 40 percent and 15 percent, respectively. (alex)