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- Release Date: 27/08/13 10:30
- Summary: MINE: NZO: Kisaran Exploration Well weekly progress report
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NZO
27/08/2013 08:30
MINE
REL: 0830 HRS New Zealand Oil and Gas Limited
MINE: NZO: Kisaran Exploration Well weekly progress report
The Parit Minyak-3 (PM-3) located in the Kisaran PSC in onshore Sumatra,
Indonesia spudded on 3 August, and as of Sunday 25 August an 8 1/2 inch hole
has been drilled to a depth of 8360 feet (2549 metres), following mud gas
readings and oil shows in the deepest section.
Current intention is to drill ahead to a Total Depth of 8500 feet (2591m).
The Parit Minyak-2 (PM-2) well fracture stimulation operation was conducted
in early August. The operation has been suspended prior to completion due to
high treatment pressures. The operational performance is under evaluation and
fracturing operations have been suspended pending the outcome of this review.
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).
John Pagani
External Relations Manager
M: +64 21 570 872
T: +64 4 471 833
End CA:00240215 For:NZO Type:MINE Time:2013-08-27 08:30:20
