Planning underway to drill two wells in Mahato PSC
Saturday, July 25 2015 - 03:19 AM WIB
ASX-listed Cue Energy Resources Limited said planning is underway to drill two wells in the Mahato PSC located in Central Sumatra Basin in late 2015-early 2016.
Mahato PSC covers a highly prospective area, close to several large producing oil fields. Multiple appraisal and exploration opportunities have been mapped and 2 wells are currently planned for late 2015 - early 2016.
A 2D seismic program to high grade further exploration prospects is also planned for late 2015.
On Nov. 24, 2014, Cue announced the execution of a farm-in agreement with Bukit Energy to acquire a 12.5% interest in the Mahato PSC, onshore Central Sumatra. This transaction received the Indonesian Government approval required in the first quarter of 2015.
Editing by Johannes Simbolon