PEARL Energy completes 1st Sebuku PSC exploration well

Singapore Exchange-listed oil firm PEARL Energy Limited said Wednesday it had completed drilling of the Makassar Straits-2 (MS-2) exploration well with a total depth of 5,500 feet in the Sebuku Production Sharing Contract.

PEARL said in a statement that pressure data recovered from MS-2 confirmed that the gas accumulation was the same as that discovered in Makassar Straits?1 (MS-1). No gas-water contact was encountered in either the MS-1 or MS-2 wells within the Upper Berai Limestone, the company said.

MS-2 well is the first of the three exploration wells it planned to drill this year. MS-1 gas discovery was drilled and tested by by previous operator Ashland Petroleum Indonesia Inc in 1974.

PEARL is interpreting the data and integrating the results into the field evaluation, the statement said.

The statement also said the Shelf Explorer jack-up rig will move to the second location to prepare for the drilling of the Berlian-1 exploration well.

PEARL is the operator of the PSC with 50 percent working interest. The remaining interest is held by Canadian firm Fuel-X International Inc. (Robert)