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- Release Date: 27/06/12 13:33
- Summary: MINE: CUE: Naga Selatan-1 Well, Mahakam Hilir PSC, Indonesia
- Price Sensitive: No
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CUE
27/06/2012 11:33
MINE
REL: 1133 HRS Cue Energy Resources Limited
MINE: CUE: Naga Selatan-1 Well, Mahakam Hilir PSC, Indonesia
Cue Energy Resources Ltd is pleased to provide the following update regarding
the
drilling of the Naga Selatan-1 well. The well is located within the Mahakam
Hilir
PSC in the Kutei Basin, Indonesia. The well operator is SPC Mahakam Hilir
Pte.
Ltd.
The Naga Selatan (Southern Dragon) prospect is situated approximately 7.5km
to
the west of the producing Sanga-Sanga oilfield.
Total depth (TD) of the 8 inch hole section was reached on 20th June 2012 at
8,300 feet. Following conditioning of the hole, wire-line logs have been run
and this
programme is on-going. Cue will provide further reports to the market once
wire-line
logging has been completed and the results have been conclusively evaluated.
The participants and their respective interests in the PSC are:
SPC Mahakam Hilir Pte Ltd (Operator) 60%
Cue Mahakam Hilir Pty Ltd 40%
Any queries regarding the announcement should be directed to the Company on
(03) 96708668 or email [email protected]
Mark Paton
Chief Executive Officer 27th June 2012
End CA:00224332 For:CUE Type:MINE Time:2012-06-27 11:33:55
