SPC, Cue to farm out Mahakam Hilir
Monday, March 31 2014 - 04:46 AM WIB
By Alexander Ginting
ASX-listed oil and gas firm Cue Energy Limited reported on Monday that company along with operator Singapore Petroleum Company (SPC) are in the process of farming out interest in Mahakam Hilir PSC, onshore East Kalimantan.
The company said that outcome for the farm out process is expected mid-year. The company did not give further detail.
Cue has 40 percent interest in the block with SPC holding the balance.
The partnership has made discovery in the block through the drilling of Naga Utara well
Editing by Reiner Simanjuntak