NuEnergy reports drilling positive result in Muara Enim

By Nur Azizah

ASX-listed firm NuEnergy announced a very positive result from the exploration drilling of two coal seam gas wells in its Muara Enim Production Sharing Contract (PSC) in South Sumatra.

The company said in a press statement on Wednesday that gas-in-place was estimated at 7.25 billion cubic feet per square kilometer. Total gas-in-place resource work out net to itself of approximately 1.98 trillion cubic feet of gas. The Muara Enim PSC (40% NuEnergy) is located approximately 100km north of Quest?s 80% owned Ranau PSC in South Sumatra.

Quest Petroleum is preparing to drill its first exploration well in the highly prospective Ranau PSC. Drilling rigs and materials are currently being sourced in preparation to drill.

Over the past 12 months exploration in South Sumatra has seen multiple wells with commercial oil and/or gas shows. Several of these discoveries are currently under development with the intention to sell hydrocarbons to domestic and foreign markets.

Editing by Benget Besalicto Tnb.