Naga Utara-2 well to be drilled in late September
Wednesday, September 4 2013 - 12:53 AM WIB
Australian oil, gas firm Cue Energy Resources Limited said that drilling program at the Naga Utara-2 well in the Mahakam Hilir PSC, onshore East Kalimantan, is scheduled for late September of this year.
The company said in a presentation material on Monday that the drilling program was aimed at appraising existing reservoirs and explore deeper targets to establish commercial flow rates and quantities.
In case of successful drilling, plan of development could follow in a short time frame, Cue said.
The Naga Utara well was drilled in the first quarter of last year. ?Naga Utara-1 showed good indications of gas, but was unable to be conclusively evaluated,? the company said.
Cue, through subsidiary Cue Mahakam Hilir Pty Ltd holds a 40 percent interest in the Mahakam Hilir PSC of the Kutei basin, onshore East Kalimantan. The other 60 percent interest is owned by SPC Mahakam Hilir Pte Ltd. as the operator of the block.
Editing by Reiner Simanjuntak