Release: Cue Energy: Drilling Update: Jeruk -3 deviated appraisal well
Friday, March 17 2006 - 12:47 AM WIB
March 17, 2006 ? At 5.00pm on 16 March 2006, Jeruk -3 was at a depth of 4960 metres measured depth (4696 metres vertical depth) and was pulling out of the hole prior to running wire line logs , after encountering what is interpreted to be the top of the Kujung objective at 4960 metres measured depth.
The forward plan is to complete logging, run and cement the 9 5/8" casing and continue evaluation of the objective.
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 Services* 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 (end of release)