Triangle updates Aceh work-over drilling
Thursday, July 14 2011 - 02:28 AM WIB
Pase A2 work-over drilling was completed at 24:00 on 13 July 2011.A new 4 1/2? tubing completion string has been successfully run to depth and pressure tested. A Production Tree has been installed ready for a production well flow testing program over the coming weeks.
The rig is currently being dismantled for transportation to Pase A-I location to remove a blockage inside the existing 7? production string, providing access to an additional 442 feet of lower reservoir.
Triangle Energy looks forward to providing further updates with respect to its work-over program.
About Triangle Energy:
Triangle Energy is a gas production and exploration company based in Perth. Its whollyowned subsidiary, TPI, is based in Jakarta and is the 100% holder and operator of the Pase PSC which covers an area of 922km2 in Aceh Province, North Sumatra, Indonesia.
Triangle Energy has three producing wells. It has been cash-flow positive since early 2010 and continues to operate profitably. Approximately 70% of the gas produced is sold at premium LNG prices. Triangle Energy is continuing to review further acquisition opportunities in the area. (ends)