Release: Cue Energy: Drilling Update
Friday, February 24 2006 - 02:23 AM WIB
Jeruk-3 Deviated Appraisal Well
February 24, 2006--At 5.00 pm on Thursday 23 February, Jeruk-3 operations were drilling 171/2 inch hole at 3322 metres measured depth. A 16 inch liner has been set to 1691 metres measured depth.
The planned total depth of the well is 5512 metres measured depth. Economic interests in the well are expected to be as follows:
Santos Sampang Pty Ltd 40.5% (Operator)
Medco Strait Serilices* 22.5%
Singapore Petroleum Sampang Pte Ltd 19.64%
PT Petrogas Oyong Jatim+ 10%
Cue Sampang Pty Ltd 7.36%.
*pursuant to an agreement with Singapore Petroleum and Cue
+subject to finalization of legal documentation. (*)