Oyong-2 well in Sampang PSC reaches 1,900-meter deep

Australian oil and gas explorer Cue Energy Resources Limited announced Friday that on July 27, 2001, Oyong-2 well in Sampang production sharing contract (PSC) area offshore East Java was at 1900 meters and bleeding down pressure prior to conditioning the well and drilling ahead.

The company said the forward plan is to drill an 8.5 inches hole to the planned total depth of 2280 meters.

At that time, said Cue, hydrocarbons encountered would be evaluated, including flow testing the oil and gas columns already encountered in carbonates of the Mundu Formation.

Oyong-2 is located approximately 125 meters north of the Oyong-1 discovery well and is designed to appraise the gas and oil zones penetrated in the Oyong-1 well and to drill the deeper Wonocolo and Ngrayong primary objectives that could not be reached in Oyong-1.

Participants in the Sampang PSC are: Cue Sampang Pty Ltd, 15 percent, Santos (Sampang) Pty Ltd, 45 percent (operator) and Coastal Indonesia Sampang Ltd, 40 percent. (alex)