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- Release Date: 15/04/13 11:08
- Summary: MINE: NZO: Kisaran Exploration Well: Target depth reached
- Price Sensitive: No
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NZO
15/04/2013 09:08
MINE
REL: 0908 HRS New Zealand Oil and Gas Limited
MINE: NZO: Kisaran Exploration Well: Target depth reached
A target depth of 9225 feet (2812m) has been reached in the exploration well
Parit Minyak-2 (PM-2), located in the Kisaran PSC in onshore Sumatra,
Indonesia, and the well is being readied for further assessment.
Initial evaluation by wireline logging in the open hole section began 10
April, and is due to be completed this week. If the results are positive, the
well will be reinforced with steel casing and cement (a 4-5 day process) and
flow testing will be undertaken. An announcement will be made if flow testing
is pursued.
Depending on the nature of the tests and the performance of the well, this
testing could take 10-20 days. It is only after the testing results are known
that the commercial viability of the well can be estimated.
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:00235173 For:NZO Type:MINE Time:2013-04-15 09:08:15
