Triangle gets local govt support letter over Pase PSC renewal

Australian listed energy company Triangle Energy said that it has received letters of support for its PSC renewal from the East Aceh district government and the Aceh Tamiang district government over the extension of its Pase PSC.

Triangle Energy?s wholly owned subsidiary Triangle Pase Inc (TPI) submitted a 20 year renewal application for its Pase PSC on 5 February 2010. The upstream oil and gas regulatory body BPMigas has earlier recommended the renewal contract of Pase PSC for twenty years.

As Aceh is an autonomous special region Acehnese support is important in order to obtain approval for the renewal of the Pase PSC.

Triangle said on 19 September 2011, TPI?s management team together with representatives from BPMigas will present to the Aceh Parliament, (DPRA) an overview of TPI?s activities to support the renewal application.

Triangle said its Pase A-1 well is now back on production following its workover in August. The well shows signs of formation damage caused by the work-over and Triangle Energy is now preparing to acid stimulate the well again which it expects will increase production from pre-work-over production levels.

Following the work-over of Pase A-2 well, Triangle Energy has confirmed the presence of gas in the well bore. The well has flowed gas with drilling fluids to surface on the swabbing tests. It said explosives are being mobilized in order to reperforate the well in order to allow gas to inflow into the well bore and carry out an acid wash of the perforations. (romel)