NuEnergy reports drilling progress at Tanjung Enim, Rengat PSCs
Thursday, October 8 2015 - 04:45 AM WIB
ASX-listed NuEnergy Gas Limited unveiled Thursday the following drilling progress of Tanjung Enim Production Sharing Contract (PSC) tenement in South Sumatra, and Rengat PSC tenement in Central Sumatra.
Tanjung Enim PSC
? Core well TE-007C and TE-009C have been successfully drilled to the target depth.
? Logs of the coal seams confirmed total thickness between 40 meters to 49 meters with over 13 meters from a single seam ? consistent results from the 3 core wells drilled (TE-008C as reported earlier and TE-007C and TE-009 as reported herein).
TE-007C is located about 2km from TE-009C and approximately 190 km west of Palembang, Indonesia. A truck mounted rig was used to drill to a depth of 300 meters targeting known coal seams. TE-009C is the third core well drilled in the Tanjung Enim PSC.
Gas saturation analysis was tested across all of the seams from the 3 core wells and the results, determined by the official Indonesian certifier PT Sucofindo, demonstrated gas content ranging between 80 and 110 scf/ton.
NuEnergy?s Chief Executive Officer Ian Wang commented: ?These encouraging results of the 3 core wells (TE-007C, TE-008C, TE-009C) drilled to-date, when compared to other CBM projects prove commercial viability and further confidence on our objective to fast-track and book early gas reserves.?
Tanjung Enim PSC covers 312.7 km2 of South Sumatra Basin and is situated in the most prolific CBM basin in Indonesia with existing gas pipelines infrastructures nearby. Dart Energy (Indonesia) Holding Pte Ltd (DEIH) group has a 45 percent working interest in the PSC and is the operator of the PSC. NuEnergy has entered into a Share Purchase Agreement with Dart Energy International Limited in May 2015 for the acquisition of the entire equity interest in DEIH. The proposed acquisition is currently pending the approval of the relevant authorities in Indonesia.
Rengat PSC
? Drilling of the first exploratory well has been successfully completed to the target depth.
? Both mud logging and wireline logging have confirmed prognosis of identifiable coal seams to their depth.
? All targeted seams revealed with low economic significance.
? Further geological and geophysical studies to complement existing data have been conducted in order to facilitate a complete drilling campaign.
NuEnergy will continue to log and conduct permeability test on coal formations to identify and map coal continuity across the basin and to understand the reservoir characteristics for further development.
Rengat PSC covers 2,395km2 of Central Sumatra Basin and lies in between prolific oil and gas concessions (located in the Central Sumatra Basin in the vicinity of a major gas pipeline from Jakarta to the Chevron Duri Steam Flood project and related infrastructure). NuEnergy has a 100 percent working interest in Rengat PSC and is the operator of the PSC.
Editing by Reiner Simanjuntak