Lion: Drilling of Amanah Timur-1 well delayed
Monday, December 5 2016 - 10:05 AM WIB
ASX-listed Lion Energy Limited said on Monday that it has been informed by the operator of South Block A PSC in Aceh Province that the anticipated spud date for Amanah Timur-1 has been delayed due to the impact of weather conditions on rig mobilization.
Lion said in a statement that heavy rain has impacted road and location conditions and requires a ?crawler crane? to be mobilized to the location. ?Assuming no further delays with heavy rain, and, satisfactory rig inspection by government officials, the well is now scheduled to spud on or about December 12, 2016,? the company said in a statement.
Lion said last week that the well was scheduled to be drilled on December 5.
The company there is no material impact on the well cost, which remains at US$1.3million (US$0.53 million net to Lion). Lion has a 40.7 percent interest in the well.
The well-defined prospect is situated within a highly productive hydrocarbon trend and is covered by recently acquired seismic, with a high probability of success. The well has a planned total depth of approximately 530m subsea and will target Late Miocene age Keutapang Formation sandstone reservoirs which have delivered over 600 mmbbl oil, 2.2 tcf gas and 50 mmbbl condensate in close proximity.
Editing by Reiner Simanjuntak