Novus says Carat-1 exploration well has reached 553m-depth

Australian oil, gas firm Novus Petroleum Limited on Thursday reported that drilling in Carat-1 well in Brantas production sharing contract (PSC) block in East Java had reached 553 meters out of the total planned depth f 800 meters.

Novus said that open hole logs and formation pressure testing and sampling has been run and gas was recovered from sand interpreted by the operator to be 9m thick at approximately 492 meters.

Novus holds 50 percent working interest in Brantas PSC, while Lapindo Brantas Inc., the PSC operator, holds the remaining 50 percent. (alex)