Share
- Release Date: 01/07/13 12:53
- Summary: MINE: CUE: Rig Contract Signed For Naga Utara -2 WellMahakam Hilir PSC
- Price Sensitive: No
- Download Document 1.31KB
CUE
01/07/2013 10:53
MINE
REL: 1053 HRS Cue Energy Resources Limited
MINE: CUE: Rig Contract Signed For Naga Utara -2 WellMahakam Hilir PSC
Cue Energy Resources Ltd is pleased to advise that SPC Mahakam Hilir Pte Ltd,
the Operator of the Mahakam Hilir PSC, has contracted a rig for the
forthcoming drilling campaign on the Naga Utara gas discovery in Indonesia.
Cue holds a 40% interest in the Mahakam Hilir PSC which is located onshore in
the Kutei Basin, Kalimantan.
The Naga Utara -1 discovery well was drilled in 2012 to a total depth of
5,066 ft MD. During drilling operations the well intersected gas in two
reservoir sands and flowed gas to surface continuously for seven days.
The rig will be mobilised from South Sumatra (Jambi) in the middle of July to
the well site in Samarinda, East Kalimantan. Site preparation is currently in
progress, and it is expected that the Naga Utara -2 well will spud by the end
of September.
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) 9670 8668 or email [email protected]
David A.J. Biggs
Chief Executive Officer 1 July 2013
End CA:00238033 For:CUE Type:MINE Time:2013-07-01 10:53:50
