Pan Orient plans immediate drilling of ELOK-IX well

Canadian firm Pan Orient Energy Corp said drilling of the ELOK-IX well at the East Jabung PSC, in Jambi Province, will be held immediately following encouraging post drilling assessment of the results at AYU-IX exploration well.

?Based on the encouraging post drill assessment of the results at AYU-1X, the joint venture has elected to commence the drilling of the ELOK-1X well immediately,? the company said in a statement on Monday.

It added the drilling will sidetrack from the AYU-1X wellbore to a subsurface location approximately 700 meters south of the AYU-1X well location, targeting a potential thick apron of Lower Talang Akar sandstones on-lapping the AYU-1X high

Pan Orient said the ELOK-1X will qualify as the second commitment well and complete the first phase exploration well commitments for the East Jabung PSC and is anticipated to take approximately 30 days to reach total depth.

The company said the AYU-1X exploration well reached a total depth of 1,140 meters within the granitic basement on August 21 and has now been logged and pressure/fluid samples have been collected. Preliminary interpretation of the wireline logs, supported by pressure data and oil samples, indicates approximately 5.5 meters of high porosity net oil pay at the top of good quality reservoir in the Batu Raja limestone.

?Significant indications of hydrocarbons in the form of oil shows and high gas readings in well-developed sands of Gumai age were also found. Additional drilling will be required to establish the commerciality of the Ayu, Elok and Anggun structural complex,? said Pan Orient, which owns a non-operating 49 percent interest in the East Jabung PSC.

Editing by Reiner Simanjuntak