Pan Orient: Exploration drilling in East Jabung PSC to start in April
Friday, March 24 2017 - 02:23 PM WIB
Canadian firm Pan Orient Energy Corp said on Friday that drilling of the first exploration well at the East Jabung PSC in Jambi Province, called AYU-1 well, is expected to start on or about the end of April this year.
The company said in a statement that construction of a five kilometer access road to the location of the AYU-1 exploration well was completed on March 9 and well pad construction is currently underway.
?Drilling rig mobilization is planned to start prior to month end and the commencement of drilling of the approximately 21-day well is anticipated on or about the end of April 2017,? the statement said.
Pan Orient said rain has impacted timelines throughout the entire period of road and well pad construction resulting in a departure from the original timelines as mitigation measures are carried out.
Pan Orient said its 2016 capital expenditures for the East Jabung PSC were US$0.6 million, comprised of $0.5 million at the East Jabung PSC accrued for the sub-surface portion of the 2012, 2013 and 2014 Land and Building Tax assessments and $0.1 million for seismic reprocessing and capitalized G&A expenses
At the East Jabung PSC, onshore Jambi, Pan Orient has a 49 percent participating interest and is a non-operator.
Editing by Reiner Simanjuntak