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- Release Date: 10/10/13 16:23
- Summary: MINE: NZO: Hydrocarbons flowing at Kisaran PM-3
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NZO
10/10/2013 14:23
MINE
REL: 1423 HRS New Zealand Oil and Gas Limited
MINE: NZO: Hydrocarbons flowing at Kisaran PM-3
Gas and condensate flowed to the surface during drill stem testing of the
first zone at the Parit Minyak-3 (PM-3) exploration well, located in the
Kisaran PSC in onshore Sumatra, Indonesia.
Approval has been received from the Indonesian regulator for the release of
testing results.
Flow testing of a gross open hole interval from 8520 feet (2598 meters) to
8760 feet (2671 meters) was completed on Thursday, 3 October.
The well flowed at a rate of approximately 3 million scf/d gas and 90
barrels/day condensate on a 28/64" choke and with a flowing tubing head
pressure (FTHP) of approximately 1000 psi.
Further testing and analysis is needed to confirm the expected potential of
the well. Tests are expected to continue throughout this month.
Preparations are being made for a second DST in cased hole at ca. 8350 feet
(2546 meters) over a gross interval of 62 feet. Both tests are within
Eocence/Oligocene Pematang sandstones.
New Zealand Oil & Gas Ltd has a 22.5% stake in the joint venture through the
share ownership of its subsidiary NZOG Asia Pty Ltd in Pacific Oil & Gas
(North Sumatera) Ltd.
The Kisaran Joint Venture partners are Pacific Oil & Gas (Kisaran) Ltd (55
per cent and operator) and Pacific Oil & Gas (Sumatera) Inc (22.5 per cent).
John Pagani
External Relations Manager
M: +64 21 570 872
End CA:00242209 For:NZO Type:MINE Time:2013-10-10 14:23:16
