Oyong-1 drilling update in Sampang PSC

Australian oil and gas company Cue Energy Resources Limited announced Friday that the Oyong-1 well in the Sampang PSC offshore East Java, was at 902 meters after setting 11 3/4" casing at 818 meters.

Oyong-1 is located approximately 37 km east of Anggur-2 well, which had been earlier abandoned after no indication of significant oil and gas was found.

The company said the drilling took place in 44.5 meters of water and the well was programmed to a total depth of 2,271 meters with drilling expected to take 30 days on a dry hole basis.

Sampang PSc is operated by Santos (Sampang) Pty Ltd, which also holds 45 percent working interest. Coatal Indonesia Sampang ltd and Cue Sampang Pty Ltd, holds 40 percent and 15 percent of working interest, respectively. (alex)