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- Release Date: 05/08/13 11:27
- Summary: MINE: NZO: Drilling resumes at Kisaran
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NZO
05/08/2013 09:27
MINE
REL: 0927 HRS New Zealand Oil and Gas Limited
MINE: NZO: Drilling resumes at Kisaran
Drilling is underway at exploration well Parit Minyak-3 (PM-3) located in
onshore Sumatra, Indonesia. The well was spudded at 6.00PM Saturday night
local time.
The PM-3 well targets shallower sandstone reservoirs than those encountered
in the Parit Minyak -2 (PM-2) well where drilling commenced in February. It
is hoped that the PM-3 well will encounter aerially extensive oil
accumulations after the PM-1 and PM-2 wells confirmed an active petroleum
system in the region.
The well is expected to take around 40 days to drill to an expected total
depth of 8160 feet (2487 metres).
New Zealand Oil & Gas Ltd has a 22.5 per cent stake in the joint venture
through its subsidiary NZOG Asia Pty Ltd. The Kisaran Joint Venture partners
are Pacific Oil & Gas (55 per cent and Operator) and Pacific Oil & Gas
(Sumatera) Ltd, a subsidiary of Bukit Energy Inc. (22.5 per cent).
Hydraulic fracture stimulation operations at the drilled and completed Parit
Minyak-2 well are expected to commence this week. Results will be released
following execution, analysis and approval by the regulator SKKMigas.
John Pagani
External Relations Manager
M: +64 21 570 872
T: +64 4 471 8333
End CA:00239285 For:NZO Type:MINE Time:2013-08-05 09:27:54
