Pan Orient: Drilling of ANGGUN-1X well scheduled for 3Q 2018
Friday, November 17 2017 - 01:01 AM WIB
Canadian Pan Orient Energy Corp said that on November 2 the joint venture has approved a 2018 work program and budget that includes the drilling of the ANGGUN-1X exploration well in East Jabung PSC, onshore Sumatra, estimated to be drilled in the third quarter (3Q) of 2018, and a contingent 3D seismic survey that would be acquired in the event of success at ANGGUN-1X.
Pan Orient also said in a statement on Thursday the first two exploration wells have been drilled. ?The AYU-1X and ELOK-1X wells did not encounter commercial hydrocarbons, however drilling results were encouraging with significant indications of hydrocarbons significantly derisking the petroleum system in this region,? the statement said.
The AYU-1X and ANGGUN-1X well locations are positioned within a complex of structural closures that occur at the Batu Raja limestone and the shallower Gumai sandstone levels. Pan Orient said drilling at AYU-1X confirmed the presence of moderately light, approximately 38 degree API oil within the Batu Raja limestone and strong indications of liquid hydrocarbons within the overlying Gumai sandstone interval that was exhibited through oil stained samples and elevated light and heavier hydrocarbon gas readings recorded while drilling.
The company said the proposed upcoming ANGGUN-1X exploration well will be targeting an independent structural closure from that tested at AYU-1X at the Batu Raja formation level. At the shallower Gumai sandstone level, ANGGUN-1X will be targeting the same well-developed, porous sandstones encountered at AYU-1X but much closer to the crest of the large structural closure as opposed to a down flank position that AYU-1X was located on.
?Further, as a result of the joint venture?s completion of the firm two well exploration commitment (with the AYU-1X and ELOK-1X wells) of the East Jabung PSC, we are pleased to announce that the Government of Indonesia has approved a 14 month extension to the first exploration phase that was originally set to expire in November 2017 and will now be extended to January 20, 2019, said Pan Orient, which owns a non-operating 49 percent interest in the East Jabung PSC.
Editing by Reiner Simanjuntak