Release: Cue Energy Resources: Oyong development drilling underway
Friday, May 27 2005 - 02:38 AM WIB
May 27, 2005 ? Cue is pleased to announce that Oyong field development drilling is underway and 20 inch casing has been set on all seven planned development wells (Oyong 4 DW1 - Oyong 10 DW1) and 13 3/8 inch casing has been set to date on Oyong 7 DW1 and Oyong 8 DW1. The seven deviated development wells are being batched drilled through the Oyong well head platform by the Ocean Sovereign jack up drilling rig.
Development drilling and well completions are expected to continue to around the end of third quarter 2005 with first oil production expected by the end of 2005.
The Oyong field is located in the Sampang Production Sharing Contract area, offshore East Java, Indonesia, in 41 metres water depth.
Participants in the Sampang PSC are:
Cue Sampang Pty Ltd 15%
Santos (Sampang) Pty Ltd 45% (Operator)
Singapore Petroleum Company Limited 40%
Any queries regarding this announcement should be directed to the Company on (03) 9629 7577 or email mail@cuenrg.com.au. (end of release)