LOFIN-1 well records oil shows
Friday, September 21 2012 - 07:45 AM WIB
Australia-listed firm Lion Energy Ltd announced the primary objective of the Manusela Carbonate formation has been encountered at measured depth (MD) of 4,265 meters during an exploration drilling at the LOFIN-1 well on Seram island.
The company said in an operation update that drilling at the well has now reached 4,383 meters, with trace oil shows encountered in the drilling mud of open hole Manusela Formation.
The LOFIN prospect is a thrust fold four-way dip closure anticline, which is located 56 kilometers to the west of the producing Oseil oilfield that has produced in excess of 10 million barrels of crude oil since production start-up in late 2002.
Meanwhile, in another part of the report, Lion said a crude oil lifting of 327,714 barrels was recorded as of September 19 from the Oseil oilfield.
Editing by Dadan Wijaksana