Share
- Release Date: 12/02/13 11:07
- Summary: MINE: NZO: Drilling underway at Kisaran
- Price Sensitive: No
- Download Document 1.02KB
NZO
12/02/2013 09:07
MINE
REL: 0907 HRS New Zealand Oil and Gas Limited
MINE: NZO: Drilling underway at Kisaran
Drilling is underway at exploration well Parit Minyak-2 (PM-2) located in
onshore Sumatra, Indonesia.
New Zealand Oil & Gas Ltd has a 22.5 per cent stake in the joint venture
through its subsidiary NZOG Asia Pty Ltd. The well in the Kisaran Production
Sharing Contract is the first New Zealand Oil & Gas has been involved with
outside New Zealand.
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).
The well was spudded at 10.30PM last night local time.
The well is expected to take around 45 days to drill. It will appraise an
undeveloped oil discovery made in 2006, and explore additional zones that
were not present in that well.
A second well, PM-3, also in the Kisaran block, is planned immediately
following operations at PM-2.
End CA:00232822 For:NZO Type:MINE Time:2013-02-12 09:07:31
